What Are the Duties of a Title Agent?

By Stephen M. Flatow, Counsel, Vested Land Services, LLC

 

Title agents such as Vested Land Services LLC play several important roles in real estate transactions- whether residential or commercial. Title agents generally act as the agent of the title insurance company.  Its job is to examine and review title, facilitate the closing, record documents in the appropriate county office, and issue insurance policies to the buyer and the lender.

 Title Examination and Review

A Title agent should be using experienced title searchers and be staffed by examiners with years of experience in the industry.  After receiving the title report from the searcher, the examiner, or reader as she is sometimes called, reviews the search to determine the status and condition of title to the subject property. Title agents generally provide this information in the form of a Commitment to Insure Title.

 Some Title agents also provide title information for the purpose of foreclosure actions, and estate planning and disposition of real property.  A Commitment is not issued.  Instead, a letter report is used.

 The Settlement Agent for Real Estate Transactions

 Title agent are very frequently the settlement agents for real estate transactions. As settlement agent, the title agent works with the buyer’s and seller’s attorney, as well as the mortgage lender to bring the transaction to closing.  The Title agent obtains signatures on all of the closing documents, and the title company also receives and distributes payments related to the conveyance transaction. After the parties have signed all the documents, the title company will record documents that need to be recorded, such as deeds and mortgages, in the local county land records office.

 Title Insurance Issuer

 Vested Land Services LLC, is a policy writing agent for three national title insurance companies.  As such, we issue policies of title insurance on their behalf.  We earn our income via a commission for issuing the title insurance policy and are licensed by the State of New Jersey.

 Well, there you have it.  Short, sweet and to the point.

 Any questions? Give us a call!  We’re here to serve.

 We are the New Jersey title insurance agent that does it all for you. For your next commercial real estate transaction, house purchase, mortgage refinance, reverse mortgage, or home equity loan, contact us, Vested Land Services LLC. We can help!

 

For your real estate purchase or mortgage refinance or

if you have questions about what you see here, contact

Stephen M. Flatow, Esq.

Vested Land Services LLC

165 Passaic Avenue, Suite 101

Fairfield, NJ 07004

Tel 973-808-6130 - Fax 973-227-0645

E-mail sflatow@vested.com

@vestedland

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