Assurance Title is a neutral third party in a residential transaction that verifies the legal ownership of a property and protects the buyer and lender from potential defects or disputes over that ownership.

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Our primary function is to ensure that when a property changes hands, the new owner receives a "clear title," meaning the property is free from undisclosed liens, claims, or other encumbrances, while the seller receives their purchase proceeds, and the lender is has a valid security interest in the property.

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🔑 Core Functions of a Title Company
A title company provides three essential services to facilitate a secure and smooth real estate closing:

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1. Title Search and Examination: Assurance Title conducts a 32 year title search of public records, often going back decades, to review the chain of title (the documented history of ownership). This search is designed uncover any potential problems, known as title defects, such as:

• Liens (unpaid taxes, mortgages, or contractor debts).

• Easements or other rights that allow third parties to use the property.

• Legal judgments against previous owners that may affect the property.

• Errors in public records or previous transaction documents (e.g., forgery, improper notarization).

It is also designed to disclose any legally binding covenants, easements, rights of way, or other agreements affecting the property and disclosing those to the purchaser. ​If necessary we work to ensure these issues are resolved, or "cured," before closing.

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2. Title Insurance
After the title search is complete, Assurance Title issues title insurance, a insurance policy that protects against financial loss from any title defects that were not discoverable during the title search. We recommend every purchaser obtain title insurance to protect their most valuable asset from hidden defects that could arise. There are two general types of title insurance:

• Lender's Title Insurance: Required by the mortgage lender, this protects the lender's financial investment in the property.

• Owner's Title Insurance: Purchased by the buyer (or sometimes the seller), this protects the buyer's equity in the property for as long as they own it.

 

3. Closing and Escrow Services
Assurance Title acts as the settlement agent or closing agent, serving as a neutral intermediary between all parties (buyer, seller, and lender). We manage the escrow account, securely holding funds like the buyer's earnest money deposit, loan proceeds, and closing costs until all conditions of the sale contract are met.

We prepare or review the essential closing documents, including the deed, settlement statements and loan paperwork.

We coordinate and preside over the act of sale where we verify final signing and transfer, ensure all funds are correctly disbursed to the proper parties (e.g., paying off the seller's mortgage and property taxes), and file the new deed and other documents with the local county recorder's office to officially transfer ownership.