It is not easy to buy or sell real estate. There are many factors to consider, extensive research must be done, legal and financial matters must be handled efficiently, and there is a lot of paperwork to complete.
The Title Company can provide the needed help and peace of mind in such a complicated situation. By navigating to this site, you can also check the services provided by the title company in New Jersey.
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What is a Title Company?
Before we get into the details of the Title Company definition, it is important to first understand what the term Title means. A Title is a document that proves that the property is owned by a specific person or company.
This is different than Possession, which means that a person simply holds the property without regard to whether or not he has any right to do so. The title, however, is proof of true ownership.
What are the responsibilities of a Title Company?
A Company's primary duty in addressing title issues is to search for the Title Deed. This will allow the seller to determine if the property is actually theirs. The company searches for ownership details as well as possession details. False claims could adversely impact the deal. Title research is therefore crucial.
A Title Company's next duty is to discover all financial and legal issues that may be affecting the property. These issues are of great concern. These issues must be addressed by the seller. However, once the deal is closed, the buyer takes over the property and inherits all the hassles.