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.
The Life of a Title Order
How a Title Policy is Made
Title Order Opened The order is opened based on information in the executed sales contract.
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).
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.
Curative Matters The title company takes action to correct (or cure) title issues, or insure around/against the identified issue(s).
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.
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.
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.
Founded in 1960, ATGF provides best in class title insurance underwriting and services for more than 60 years. The company's mission is helping agents succeed through trusted products and services, innovative technology and amazing support. The company currently pursues this mission by underwriting, training and supporting agents in Colorado, Utah, Minnesota, North Dakota, Nevada, and Arizona. ATGF has maintained a strong Financial Stability Rating(r) (FSR) of A, Exceptional, from the independent rating agency, Demotech, Inc.
