I met my seller today to sign off on his escrow that will be closing next week. One of the papers was the Preliminary Title Report, and he was one of only a few sellers lately who didn't have to fill out a statement of information for the Title Company beforehand, probably because both his first and last names are unusual. There are often judgements and liens that show up in a search that do not belong to the owner, but to someone else with the same or similar name. This identity affidavit can clear up any errors that may "cloud" the title. Even when the owner is the correct party, there may be a lien that has been paid but not cleared from the property record, and by submitting the paperwork early, last minute problems can be avoided.
No comments:
Post a Comment