December 2014

There are 1 blog entries for December 2014.

A commitment for title insurance provides a buyer with the terms and conditions for which the title company will be issuing a title insurance policy. Title insurance protects buyers and lenders from errors and defects in the title on real estate being purchased. After the title company receives an effective contract, the title company has 20 days to produce the title commitment. An automatic 15 day extension is available if needed. The title commitment outlines the status of title, along with issues or defects such as liens, past due taxes, judgments, lawsuits and other such encumbrances that need to be corrected and/or addressed before closing. Every party to the real estate sale will receive a copy of the title commitment. A buyer should also receive

2,613 Views, 0 Comments.