A title company is a specialized firm that helps manage the transfer of real estate property after the death of an owner.
They help research real estate Titles to verify that the deceased owned the property, identify any existing Liens, and ensure that it's clear for transfer to Surviving Family members, Heirs or other Beneficiaries.
Title companies help after the death of a property owner in a number of ways including:
Title Search and Verification: They conduct a comprehensive title search to verify the legal ownership of the property within the deceased's Estate. This is a critical step to confirm the title's legitimacy and identify any potential issues that need to be addressed during the Probate process.
Title Insurance: Title companies may offer insurance policies that protect the new owners (heirs or beneficiaries) from any unforeseen claims or disputes related to the property's ownership or title that may arise during or after the probate proceedings.
Facilitating Property Transfers: They assists in the smooth transfer of property ownership by preparing the necessary legal documents, such as Deeds or Affidavits, to formally transfer the property to the rightful heirs or beneficiaries as determined by probate proceedings and in accordance with the wishes outlined in the deceased's Last Will and Testament.
Resolution of Title Issues: They address any title issues or discrepancies that may arise during the Estate Settlement process, working to resolve them to ensure a clear and marketable title for the property.
Collaboration with Probate Attorneys: Works closely with Real Estate Attorneys, Estate Attorneys, and Probate Attorneys to ensure that property-related legal aspects are handled correctly and in compliance with state laws and regulations.
Closing Services: They coordinate the closing of real estate transactions, facilitating the signing of documents and the exchange of funds, ultimately completing the property transfer in accordance with the probate orders.