title company

A title company is an organization that provides title insurance and conducts title searches for transactions of property . When a person or organization decides to buy property, they usually will want a title report and often want title insurance to protect them from the many issues that can arise in the sale of title . For example, the seller may not be the only person with ownership rights to the property, or the seller may have misrepresented the boundaries of the property. A title company will conduct a title search which usually will discover these kinds of issues should they exist. However, sometimes even a title search will not be able to find issues in the title which may later cause the buyer to lose the property. Title insurance provided by a title company protects the buyer should they not find the error. Usually the buyer pays one time for title insurance and a title search as part of the closing costs of a transaction.

[Last updated in November of 2021 by the Wex Definitions Team ]

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