An overview of the title industry Prior to the development of the title industry in the late 1800s, a homebuyer received a grantor’s warranty, attorney’s title opinion, or abstractor’s certificate as assurance of home
Community Property Requires a valid marriage between two persons. Each spouse holds one-half interest in the estate. Title is in the “community”. Each interest is separate but management is unified. Equal right of possession
What is escrow? Escrow is the process wherein the Buyer and Seller deposit written instructions, documents, and funds with a neutral third party until certain conditions are fulfilled. In a real estate transaction, the
Important Tax-Related Dates January 1 Assessment Date. Taxes become a lien at 12:01 a.m. Not yet due and payable for the Fiscal Tax Year starting July 1. Thereafter title evidence must show taxes as
First, know loan types. Conventional Loan This simply describes a loan that is not obtained under any government-insured program, secured by investors. It could be any type: fixed rate, adjustable, balloon, etc. Adjustable Rate
What is title insurance? Title insurance is a contract of indemnity which guarantees that the title to the property is as reported. If it’s not as reported, we will reimburse the buyers for actual