Saturday, 30 May 2020

Can a Title Company Handle Escrows?

Written by Posted On Friday, 02 November 2018 09:32
 Can a Title Company Handle Escrows? Can a Title Company Handle Escrows? Can a Title Company Handle Escrows?

Can a Title Company Handle Escrows?

YES, they most certainly can. Title companies play several key roles in matters concerning real estate transactions. They act as the agent of various parties involved in real estate transactions, including buyer, insurance company, and seller.  One of their most important responsibilities is the handling of escrow accounts, which generally contain funds needed to close the deal. Funds are set aside in escrow accounts to ensure that the money is used only for its main purpose, namely for settlement and closing costs.

Buying and selling of property is capital-intensive and usually involves a transaction of huge sums of money. It is therefore important to ensure that the process is handled by a neutral party that has no special interest.  Title companies usually handle the transfer of funds and all necessary documents from one party to another. They do this to ensure that all conditions that have been put in place are met before money and property change hands. The tittle company usually implements written instructions given by the main stakeholders (the seller, buyer and lender). These instructions include receiving necessary documents and funds, completing the required forms, and handling necessary items (funds and documents) to respective parties upon completion of the escrow process.

As closing and settlement agent, a title company not only manages the closing process but also conducts it. Title companies are well-versed in the mechanics of the  real estate industry;  they know how sensitive real estate transaction are and they ensure that the process is conducted transparently and smoothly so that both parties involved in the process are happy and satisfied. The closing process can sometimes be very complicated. The title company will assist with resolving any issues that may arise and they will ensure that all parties have reached a common ground before they allow exchange of funds and documents to the seller and buyer, respectively.

 Can a Title Company Handle Escrows?

Should I trust title companies to handle escrows? 

YES. In fact, they are the best and most recommended choice to handle escrows. As a neutral third party, they have no special interest in the process. Their main goal is to ensure that all parties involved in the process are happy and satisfied. They also ensure that all involved parties have complied with the law and have followed legal process. They will only allow money and documents to change hands if they are satisfied beyond reasonable doubt that all conditions set by parties, and legal requirements, have been met. Therefore, when you choose a title company to handle escrow, you can be sure that your money or documents are in safe hands, especially since they are generally backstopped by giant, publicly-held title insurance companies.

Weston Title & Escrow Inc
2500 Weston Rd Ste 404, Weston, FL 33331
(954) 384-6168
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
 

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Roy Oppenheim

From Wall Street to Main Street, Roy Oppenheim is a successful serial entrepreneur and attorney focusing on Florida real estate, foreclosure defense, loss mitigation and Internet ventures.

 

He founded Oppenheim Law in 1989 with his wife Ellen Pilelsky and uniquely positioned the Firm as one of Florida’s leading boutique law firms in Weston, Florida.

 

Serving national, international, and local clients, Mr. Oppenheim has the highest rating (A-V) conferred by Martindale Hubbell Law Directory, the most respected directory of lawyers and law firms in the U.S.

 

In 1989, Mr. Oppenheim also co-founded and served as general counsel to ShopSmart Corp., the company that originated and owned the GNC Gold Card Program, a program that continues to this day and was one of the first cross-promotional programs of its kind.

 

In addition, in 1994, he co-founded Weston Title & Escrow, the oldest title company in Weston, Florida, and he currently serves as its Vice President. In 1999, Mr. Oppenheim served a one-year term on the board of directors for Catalina Lighting, a publicly traded company on the New York Stock Exchange.

 

Growing up in the Bronx, Mr. Oppenheim learned to be focused on success and driven to always persevere for opportunity.

 

In 2009, he started the South Florida Law Blog, which was voted the best business and technology blog by the South Florida Sun-Sentinel. He also serves as an expert witness on title industry practices.

 

Mr. Oppenheim has also authored two law review articles with Jacquelyn Trask; namely, Deconstructing The Black Magic of Securitized Trusts, published in the Stetson University Law Review’s Spring 2012 Edition, and The Emperor’s New Clothes, published in the William & Mary Business Law Review Volume 6.

 

Today, Mr. Oppenheim is a sought-after legal expert on issues relating to the real estate crisis and beyond. In addition to his own blog, he also has been a contributor to Yahoo! Homes, and featured on HuffPost Live, FOX News, and Lifetime TV. In addition he has been quoted in prominent national publications, including USA Today, The New York Times and Huffington Post, among others. Mr. Oppenheim also understands the power of social media, and can be found on a variety of social media platforms.

 

Mr. Oppenheim also speaks fluent German.

 

Admissions

 

  • Florida Bar, 1987; Member of the Real Property Probate and Trust Law Section
  • New York Bar, 1987; United States District for the Southern and Eastern Districts of New York, 1987
  • U.S. District Court, Southern and Middle Districts of Florida, 1993

 

Education

 

  • Princeton University, A.B., cum laude, 1982
  • Northwestern University School of Law, J.D., 1986
    • Member of the Northwestern University Law Review
    • Member of the National Moot Court Team

Original source:  https://www.oppenheimlaw.com/who-we-are/meet-our-team/roy-d-oppenheim-esq/ 

https://www.oppenheimlaw.com

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