What is Escrow and Title? Escrow is a non-biased third party that collects, holds and delivers documents and monies in accordance with dated and written instructions in a real estate transaction. They handle loan documents and funds, prepare documents, obtain signatures, and records documents. Best example: A neutral third party that ensures the buyer gets the home and the seller gets the monies.
Title is legal term meaning ownership. Deeds to land are sometimes referred to as title deeds. If a person has good title to a property, their proof of ownership is beyond doubt. Title insurance protects the lender against any claims that arise from arguments about ownership of the property and is used for homebuyers.
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