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What is a Title Company Responsible for?

Written by Posted On Monday, 05 November 2018 03:51
What is a Title Company Responsible for? What is a Title Company Responsible for?

What is a Title Company Responsible for?

Have you been advised to hire the services of a title company, but are wondering how they can be of help to you? A Title Company plays a crucial role in the real estate industry. Unfortunately, most people don’t know how crucial that role is. Most of the time, they act as an agent for the buyer, the seller and the insurance company, and take part in the transaction process. In this article, we discuss a title company’s function and responsibilities in more detail.

What are the responsibilities of a Title Company?

They conduct title searches.

One of the key roles of a title company is to conduct title searches. In real estate, title actually refers to equitable interest and numerous legal rights that pertain to a particular piece of property. A title search is a crucial process that helps provide valuable information about a property that is about to be sold or bought. A title search will help to disclose existing lines of credit, judgments, special assessment, and unpaid taxes, and other issues. The title search will also help to uncover any leases, easements or any other restriction that should be a concern to the buyer. Once the title company has successfully conducted a title search, it will issue a detailed report of their findings to the parties involved in the sale and purchase.

They issue Title insurance policies.

If a title search is conducted properly, then the buyer should have absolutely nothing to worry when they close the deal. However, regardless of how thoroughly the search is performed, it is possible to miss something.  Some of hidden problems that can arise later include things like defective deeds, land mineral rights that were previously unknown, forgotten wills, invalid court proceeding and undisclosed heirs. Title insurance is crucial because it helps to protect the buyer against unforeseen issues that may arise later. It also helps to protect buyers from fraudulent ownership claims.

They act as closing agent.

The title company usually act an agent of each party involved in the transaction process. As a result, they are closing agents. One of their main role is to ensure that all parties involved in the transaction process sign valid closing documents. Once the deal is closed, they usually record all documents and present them to county’s recorder’s office. The closing process is quite complicated, especially for mortgages. Many signatures, forms and documents are needed. The title company will help ease the process by acting as the closing agent. They will act as the intermediary between the buyer and seller as well as ensure that all necessary documentation is served, signed and recorded.

They serve as escrow office.

If you hire the services of a title company, then they will most likely act as your escrow officer. This means that they will be responsible for handling all funds including down payment and closing costs. They will ensure that all funds are paid and disbursed properly. They will work closely with all parties involved as per the instructions provided to them.

Should you have any questions or would like to schedule an appointment,
contact us.

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.

Website:https://westontitle.com
Original source: https://westontitle.com/weston-title-news/title-company-responsible/  

 

About Roy:
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. 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.

Tags: Sellers & Buyers, Realtors Investors, Foreclosures, Lenders, Mortgage, Refinancing, Developers & Builders,What is a Title Company Responsible for?

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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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