AThe title company’s primary task is to provide title insurance to the borrower and any lender involved in financing the transaction. The title company also handles the real estate settlement or closing to make certain that the documents necessary to convey clear title have been properly executed and filed, and that all previous interests in the property have been properly transferred and/or disposed.

AA title search is essentially a review of all recorded documents affecting a parcel of property in order to determine the current condition of title.

ASurveys are always suggested and are used to determine if there are any encroachments on the property you own or wish to purchase. A survey details the structures (otherwise known as the improvements) and the boundaries of the property. Generally, on real estate sales involving a lender, the lender will require the Alta Form 9 insurance endorsement. If the lender requires the title company to issue this endorsement, then a survey will be required. Note, however, in most cases, a survey is good for 7-10 years and can be re-certified and is often a much less expensive option than ordering a new survey, which can add between $300 and $500 to your closing costs.

AYes, there are various items that a title search cannot reveal. A title search will only reflect what recorded among the public records. Anything not yet recorded, incorrectly indexed or items that have failed to be recorded will not appear in the results of the search.

ATitle insurance is an insurance policy that protects real estate owners and lenders against any property loss or damage because of liens, encumbrances or the defects in the title to the property. The policy states that if the status of the title to a parcel of real property is other than as represented, and if the insured suffers a loss as a result of covered defect, the insurer will reimburse the insured for that loss and any related legal expenses, up to the face amount of the policy.