What is escrow and title insurance?

Escrow is simply the time period during which all the funds and documents that are related to the transfer of property are verified. This is where Ticor Title becomes involved, acting as an independent third party for the buyer and seller, carrying out the instructions of both parties, assuming responsibility for distribution of funds, handling all paperwork, and recording the deed which transfers the title to you, the buyer.

Escrow protects all parties involved in the transaction. As an example, with a deposit, the buyer’s money is protected while the seller verifies evidence that the buyer’s interest is in good faith. The title company holds all monies, instructions, and documents required for the transaction, distributes the appropriate amounts to each party, and handles details such as recording the new deed.

Title Insurance is an insurance policy which protects the buyer against risks that can go undiscovered during a title search. Also known as “hidden defects”, these risks might not show up until several years later. Some examples are: undisclosed or missing heirs, impersonation of the true owner, a forged signature on a deed or a deed and mortgage signed by persons of unsound mind, minors, or supposedly single but actually married persons.

Even in the event that hidden defects such as these occur, with Ticor Title you and your property will remain protected.

Follow These Links for More Info:

What Happens in Escrow
What’s in a Title Search?
5 Common Ways to Hold Title
Title Insurance Commitment