The term title refers to legal ownership of property, not just real estate. A title company protects you against claims of previous owners or creditors while also ensuring that there are no liens on your new house. The company will also give you advice about what kind of insurance coverage is best for your situation. The main roles attorneys serve in a title company are:
Business Advisor
An attorney in a title company is first and foremost your business advisor. They can help you understand all of the responsibilities that come with homeownership, including insurance requirements, budgeting for repairs or upkeep, and how to set up an emergency fund.
Legal Review
The second role attorneys play at a title company is reviewing documents for legal compliance before they are recorded with the county clerk’s office. Documents involving real estate usually go through this process once or twice per year. It involves reviewing contracts for specifics like dates, contingencies, signatures including other parties, deadlines, language consistency throughout each document, etc. If there are any discrepancies or problems with the documents before them, lawyers cannot sign off on them until other team members fix them.
Closing Agent
The closing agent is responsible for holding funds and distributing them to the appropriate parties according to the terms of a contract after the sale of a home has been completed. The professionals also track documents, manage escrow insurance and taxes, file legal papers, and perform other necessary tasks.
Stamp Tax Attorney
The stamp tax attorney assists with all estate transfers, including title changes or mortgages. This includes probate issues such as will contests, name changes; Also trusts; Orphans court matters such as adoption proceedings and guardianships; Trustees and Guardians ad Litem Matters; Estate Planning: Living Wills, Health Care Powers of Attorney, Advance Directives, Probates, and Trust Administration.
What services can a title company offer you? Do you really need to hire a company such as Southern Title in real estate investments? When you purchase a new home, it is important to be aware of the various professionals that handle different aspects of the transaction. One particular profession that plays an integral role in this process is the title company. For this reason, ensure you know what services every staff in a title company has to offer.
