Q: What is the function of a Title Insurance Company?
A:Legal statutes provide that buying and selling of real estate must involve an independent third party to facilitate the performance of escrow, closing and settlement, and the issue of title policies. A full service title company performs the search on the property, conducts the requisite due diligence to review the Chain Of Title, identify any inconsistencies, liens, judgments, etc., issue the Commitment To Insure, manage the funding through escrow accounting, coordinate all activities between the buyer, seller, realtors, mortgage brokers, lenders etc., conduct the closing, disburse funds, issue the Title Insurance Policy to both the buyer and lender, and finally get all required documents recorded to establish your ownership.