What Does A Title Company Do?
Author:
Victoria ArajMar 17, 2024
•6-minute read
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In the early days of American history, when you wanted to buy property, a conveyancer handled the transaction. Part of their job was to find out if the property title was “unencumbered.” If a property is unencumbered, it means no one other than the seller has ownership rights to it, and there are no liens on it, meaning nobody else can take the property to pay a debt. But there was no guarantee or insurance that held conveyancers accountable if they were wrong.
Today’s title companies research property titles just like conveyancers did, in what’s known as a title search. But since the late 1880s, they’ve also provided title insurance – their guarantee that if a problem turns up that they didn’t find, you’re protected.
Let’s take a closer look at modern-day title companies and what services they provide lenders and buyers.