The Life of a Title Order. 

Many buyers receive a Title Policy after closing. Much important work has been done behind the scenes to protect your interest in the new property. This simple infographic can help you understand how a title policy is made.  

 How a Title Policy is made infographic

 

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How a Title Policy is Made

  1. Title Order Opened
    The order is opened based on information in the executed sales contract. 

  2. Title Search & Examination
    Various public records are searched to identify potential title risks. The results of the search determine requirements (documents needed in order to complete the deal) and exceptions (items the title company will not insure). 

  3. Title Commitment
    This commitment is to insure title on the subject property and includes amount of coverage, who is covered, policy terms & conditions, and any limitations of coverage. 

  4. Curative Matters
    The title company takes action to correct (or cure) title issues, or insure around/against the identified issue(s).

  5. Closing
    Once matters have been resolved, and the lender has given their final approval of the loan’s financial details, the deal  is clear to close. An appointment is set for the closing, where the buyers and sellers sign necessary paperwork.

  6. Post-Closing Processing
    If all items are satisfactory to the lender, they fund the loan. All parties are notified once they receive the buyers’ funds from the lender. The Escrow Officer records all related documents with the County Clerk and Recorder.

  7. Congratulations! Your Title Policy Is Issued!
    Within 30 days of closing the transaction, if all Requirements listed on the Title Commitment have been satisfied, the final Policy is issued to the buyer.

Talk to an Independent Title Agent about your Title Insurance options