Document Preparation And Settlement
In addition to the title search, the title company is usually responsible for the preparation and/or obtaining of the documents necessary for the transfer of title, financing and settlement. These include the Deed, Mortgage or Deed of Trust, Note, Settlement Statement, and other related papers necessary for the transaction.
Settlement is conducted by the title company. The parties meet at a mutually convenient time and location, and the title company explains the documents and makes sure that they are properly executed and exchanged. The title company assumes the responsibility for handling the transfer and disbursement of funds and the recordation of documents in the land records office.
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