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Title Company

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Title Company
A company that conducts a title search, which is research done to trace a title back to its original owner or back to some date dictated by statute. A title search is done before the sale of property to ensure that there are no competing claims for the same property. Paying a title company is part of a real estate sale's closing costs.


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For example, the title report obtained by the lender in contemplation of a reverse mortgage may reveal old mortgages that were paid but never satisfied of record, Environmental Control Board (ECB) violations that have become judgments, or mechanic's liens from home repairs--issues which may take substantial time for the title company to clear prior to closing the reverse mortgage.
Any benefit, however small, which flows from a title company to such a person, is a per se prohibited inducement (Department of Insurance Bulletin 80-12).
The well known nationwide title companies in East Texas are Chicago Title Insurance Company, American Title Company and U.
 
 
 
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