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Q: Sample feasibility title product
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What is the name of the document that shows that you have no liens on your condo property and how do you get this without a Title Company?

The document is called a Certificate of Title. A Certificate of Title is issued by an attorney or title company after a title examination has been completed by a professional. It is used by a Title Insurance Company to write a title policy. Lenders require a Certificate of Title to lend money on the property. Generally, a Certificate of Title is backed up by an attorney's, or a title company's, malpractice insurance. You cannot get that for free.Depending on why you need the title checked, you could hire someone to examine the title for you or you could visit the land records office and do your own research. However, the title status report will not be acceptable for any official purposes.The document is called a Certificate of Title. A Certificate of Title is issued by an attorney or title company after a title examination has been completed by a professional. It is used by a Title Insurance Company to write a title policy. Lenders require a Certificate of Title to lend money on the property. Generally, a Certificate of Title is backed up by an attorney's, or a title company's, malpractice insurance. You cannot get that for free.Depending on why you need the title checked, you could hire someone to examine the title for you or you could visit the land records office and do your own research. However, the title status report will not be acceptable for any official purposes.The document is called a Certificate of Title. A Certificate of Title is issued by an attorney or title company after a title examination has been completed by a professional. It is used by a Title Insurance Company to write a title policy. Lenders require a Certificate of Title to lend money on the property. Generally, a Certificate of Title is backed up by an attorney's, or a title company's, malpractice insurance. You cannot get that for free.Depending on why you need the title checked, you could hire someone to examine the title for you or you could visit the land records office and do your own research. However, the title status report will not be acceptable for any official purposes.The document is called a Certificate of Title. A Certificate of Title is issued by an attorney or title company after a title examination has been completed by a professional. It is used by a Title Insurance Company to write a title policy. Lenders require a Certificate of Title to lend money on the property. Generally, a Certificate of Title is backed up by an attorney's, or a title company's, malpractice insurance. You cannot get that for free.Depending on why you need the title checked, you could hire someone to examine the title for you or you could visit the land records office and do your own research. However, the title status report will not be acceptable for any official purposes.


Do all title companies sell title insurance?

Let's start with defining title COMPANY vs title AGENCY. A title company is the actual company underwriting and insuring the title policy. Title companies then have agents who sell and negotiate title products in their behalf (think of it as equal to Allstate (the company) having the local Allstate agent) At this point in time, most title companies are also in the business of selling title products directly and in competition with their agents. However, there are more direct title agencies to obtain title insurance services from at a local level than title companies. So, the answer is yes, title companies can also be SELLING title services and products in addition to underwriting and insuring title insurance policies.


What are real estate title companies?

Title companies research the chain of title for the property before a home is bought. They make sure there are no liens, clouds on the title, or other encumbrances by doing a title examination. Basically they make sure the record title is A-OK. They can also perform the closing and can also hold deposit escrow money while the deal is pending.


How does title insurance affect the seller who had no title insurance?

A seller with no title insurance:If a person has offered their property for sale and accepted an offer to purchase generally the intelligent buyer's attorney will have the title to the property examined by a professional title examiner. If the title exam reveals a defect in the title and the seller was not covered by a title insurance policy then the seller must pay to have the defect resolved. Title defects can be very costly to resolve.Generally, if the seller chooses not to have the defect resolved the buyer can back out of the sale and get their deposit back. However, the seller has been put on notice regarding the defect.The new owner's title insurance:The new title insurance does NOT affect the seller in any way. Coverage is given only to the new owner under the Owner's Policy. If the seller cannot clear the defects and the buyer still wants to purchase the property, the issuing Title Agency has the option of insuring the title, but excepting the defects from coverage to the new owner. Thereby, the risk is assumed by the buyer, not by the Title Agency.


What is a seller's affidavit of title?

A statement, under oath, that the property being conveyed free of defects or encumbrances since the date of issue of title insurance commitment, or in other words, since the seller's acquisition of the property. A seller's affidavit of title does not substitute for a full title examination and doesn't mean that you shouldn't buy an owner's title policy.

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