This research is performed to ensure that the seller is the rightful owner of the property and is transferring the title over to the buyer without any hidden strings attached. A clean title means that there are no unpaid taxes, legal obligations or suits, fraud, any remaining heirs with rights to the property, and more. With their legal background, the Mathis Title Company attorneys are able to perform research on the title to make sure that the title being transferred is clean. After this process is complete, funds will then be disbursed for transfer and a title insurance policy will be officially created. The escrow officer will then instruct the recording of all closing documents. Once the escrow officer has approved the title order, our title company attorney will begin a title search to ensure a clean title transfer and the homebuyer will be issued a preliminary report to review and approve. Creating The Policy For Title Insurance In Virginiaĭuring the sale and purchase of a home, Mathis Title Company will hold the funds being transferred in an escrow account before title transfer and closing.
Having a proper title insurance policy will make the title transfer during closing a smoother transition. Homebuyers and mortgage lenders protected under title insurance Virginia can feel secure in knowing that they will not incur any financial loss as a result of a defective title. Oftentimes, property titles can be defective because of unknown liens, public record errors, property restrictions, illegal deeds, easements and other encumbrances. Acquiring title insurance in Virginia will ensure that the mortgage lender and the homebuyer are protected against problems with a title during the transfer of ownership of the property.
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