From an Article by Theodore Urton, Fidelity National Title Company - In today's marketplace, title companies perform two basic services: they issue policies of title insurance on behalf of purchasers and lenders; they also provide escrow or settlement services on behalf of the principals.
Title is a record of who owns property, both past and present. The title company's role is to make certain that sellers really own their homes so that no one else (ex-spouse, long-lost child, etc.) can make a future claim invalidating the current purchaser's ownership of the property. Title companies ensure that you have marketable title to your home.
As an escrow agent, title companies serve as a neutral third party between the principals and parties of interest on the transaction.
To see the complete article, please go to www.StatesmanJournal.com/insidebiz
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