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4
Stage 4 of 6
Title Review
The title company researches the property history to ensure the title is clear and transferable. A title commitment is issued showing ownership, legal descriptions, liens, easements, or any requirements that must be resolved before closing.
What typically happens
- Verify ownership
- Get payoffs for existing liens
- Review surveys
- Resolve title issues
- Prepare closing documents
Related terms
Title Commitment
The title company's promise to issue a title insurance policy, along with a detailed report of anything affecting the property's title.
Title Insurance
A one-time policy that protects your ownership rights against title defects, undisclosed heirs, forgery, and errors in public records.
Schedule A
The current and proposed ownership and insurance coverage.
Schedule B
Items we take exception to on the title policy.
Schedule C
Issues that need to be resolved before closing.
Schedule D
Disclosures about the entity insuring the title and the cost.