Mandeville Title Company
Title Company Mandeville
From the earliest days of our country’s history, if people wanted to purchase a property, then they needed to do it with the help of a profession known as a “conveyancer.” These people made sure that properties didn’t have any existing liens and weren’t owned by anyone other than the seller. Modern title companies around Mandeville in the 21st century perform the same work for clients as conveyancers from the past but also provide the added benefit of title insurance. Title insurance protects everyone in case there are any discrepancies during a title transaction.
What is a Title?
A title is a record of ownership for a property. The title says a description of the property, provides information about present liens, and records who owned the property in the past. For example, if you buy a home with the help of a lender, then your mortgage would be recorded as a lien on the house. A title is not the same as a deed, which is given to the buyer after the property sale has been completed with you as the new owner.
What is a Title Company and What Does it Do?
Title companies near Mandeville work for the security and benefit of buyers and sellers alike as a third party. They’re hired to perform due diligence and insure the property title during the transaction. Title companies are important because if the true owner of a purchased home is unknown, then they might show up one day with a legitimate legal claim on the property, causing calamity for everyone. A reputable title company close by, like Crescent Title, provides title insurance for buyers so that their financial interests are protected from such pitfalls. Now that you better understand why hiring a local title company is beneficial, it’s time to dig deeper into the finer points regarding their services.
Mandeville Title Research and Property Surveying
Crescent Title's abstractor will conduct thorough research of the property's title history in the courthouse to verify ownership and real estate taxes, obtain mortgage payouts, uncover apparent title deficiencies or encumbrances such as liens, judgments, which may be disclosed on the title report. Every title search is examined by an experienced attorney to ensure the proper procedures are followed.
Crescent Title also works with local third party property surveyors, who, for an additional charge, can at the request of a party prepare a survey of the property to confirm that a home occupies only the area indicated on the title, among other matters. After all, you don’t want to find out that the home is actually on someone else’s property or that a neighbor’s fence is actually on your own.
Understanding Title Insurance
Title companies around Metairie provide title insurance to parties in real estate transactions. Title insurance is a type of insurance policy that protects the policyholder (typically a homebuyer or lender) from financial loss in the event that there are defects or issues with the title to a property. These defects or issues may include claims of ownership by others, outstanding liens or judgments, undisclosed heirs, or other encumbrances that can affect the ownership or use of the property.
In Louisiana, it's typically the buyer of the property who pays for the title insurance policies of both the buyer and the buyer's lender. Thankfully, title insurance only needs to be paid once, unlike most other insurances. Clients will be covered under the title insurance policy for as long as they own the property.
FAQs
Commonly Asked Questions About Title Companies
Title companies near Mandeville close transactions without hassle or headache. Still, it’s understandable that first-time sellers and buyers of property have questions about title company services nearby. To better cover the basics, we’ve put together a detailed Q&A regarding the most frequent title company questions here:
Working with a reputable title company nearby is usually a necessity when applying for a mortgage with most lenders, but it isn’t a legal requirement to buy property. That being said, it’s smarter to work with a local title company rather than close alone, especially if paying in cash. This will ensure that your purchase is safe against legal claims from others.
While title companies in Mandeville can’t remove liens by themselves, they’ll work with sellers and buyers so that nobody’s interests are ignored. Title companies can help negotiate outcomes regarding liens between parties, but it’s up to the seller to decide how and if they’d like to proceed.
Sellers and buyers can choose to work with either the same title company or different title companies. There is no law saying that both must be represented by the same company.
Experienced title companies around Mandeville, like Crescent Title, can uncover problems with titles that include:
- liens
- Successions
- outstanding loans
- special assessments
- undisclosed heirs with property claims
- unpaid fees for work performed
The Best Title Company
in Louisiana
Crescent Title works with clients to guard their interests while making sure that title transfers occur smoothly. With decades of experience in the industry, we’ve successfully closed countless sales, and we’re continually expanding our property title services in Mandeville and beyond. If you want the security that working with a professional title company nearby brings, then look no further than Crescent Title. Call or email us today to learn more and to start the process!
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