Title companies. Title to a house: Does the company use a fill in the blanks form, or are they custom made?

Question

On a house title. The verbage used. Is it created specifically for each individual person and or property? Or are titles usually a "fill in the blank" type of form that Title Companies use. For example, do they assume people are married or do they ask for proof? Who gives the information to the Title Company? The buyer or the real estate salesperson?
Do you have to specify which type of title you want (joint tenancy with the right of survivorship, tenancy in common, community property, etc)?
Thanks for your help!

Answer 1

Unfortunately, a lot of title companies and attorneys will make assumptions for the deed. You will generally prove your relationship at settlement with ID's and signed mortgage application (legal contract). You can definitely control this process. Research the type of title you want (joint tenants, tenants by the entirety, etc), and make sure you get a owners title insurance policy. But to answer you first question, deeds are generally a fill-in-the-blank document, with the legal description usually being on an attached addendum.

Answer 2

If you are speaking of a purchase, the mortgage broker or the person filling out your loan application will ask how you want to take title to your property and will give you a brief discription of what each mean. You tell them after you are explained the various types of ways you are able to take title to the property.

Most of the time your real estate agent will ask also to insure before escrow is opened. It will be verified again by the escrow closing agent.

If is a refinance once again the person filling out your loan documents will ask. It is a question on your loan application. since this is aa refinance the way you take title will be verified by the existing title report.

You may change your mind up until the time the loan docs are prepared. At that time the loan docs will have a document that indicate how you have decided to take title called a deed.

As far as fill in the blanks, most titles are not filled in but are sort of like a 5-10 page book. Each page is completely typed.

You have all your liens, your covenants and other legal descriptions of the property. You then have a page with who the property owner is and how they took title to the property.

I hope this has been of some use to you, good luck.

"FIGHT ON"

Answer 3

as long as that's an wide-unfold organisation it won't make slightly bit distinction. The call organisation merely handles the escrow and themes coverage to the shopper. interior the long-term they simply prepare deeds so which you would be able to sign and hand you the money (except you're additionally appearing as a lender to the shopper). of direction you should assessment and in all hazard get criminal suggestion on the completed depend - endure in ideas that a call organisation is a unbiased celebration and could no longer help or advise the two the shopper or the seller in criminal concerns. the only minor distinction ought to be the charges that they fee the seller. Ask what those costs are and, in the event that they're intense, have the shopper %. up the surplus. in spite of everything, the final analysis for you is to have a sparkling sale, get you money, and have no after-sale issues or themes , perfect? If the shopper gets a chit on HIS fees by way of using form X centers, this is neither right here nor there for you as long as you're actually not impacted. Now if the call organisation is termed Uncle Luigi and he operates on the returned table of Dominics eating place on Fridays between 2 and 5pm, then consistent with hazard that may no longer as sturdy an thought. .

Answer 4

Depends on state requirements - community property, dower rights, none of the previous, etc. Then the rest comes from the 1003 Mortgage Application the customer filled out and signed. Please make note that the last pg of the 1003 contains the verbiage that basically states everything is true & correct. So you decide how title is held. I usually double check with my customers to make sure we pass on to the title company the correct information since OH is a dower state.

Far as proof of divorce, that is more for the lender underwriting and then the states with the community & dower laws.

Answer 5

yes it is a fill in the blanks with using the answers provided by the client...no you don't have to provide proof of marriage but for the loan you might have to prove that you are divorced...weird...anyway...you have to chose the way in which you hold title vesting...they each have a different legal coverage as to your spouse or co-borrower...check with an attorney or better yet just ask the manager of the escrow or title firm that you are using!
good luck!