lmost every loan included deed of trust is recorded with
in real estate transactions land records.
requires that the borrower
safeguard the loan with the real As part of the process, the title
estate that is being purchased or company will help you payoff your
else the realestate that the old mortgages through the closing
borrower owns. process. Old mortgage payment
funds are escrowed at the
To be able to say that to the closing, and then paid on your
lender, (i'll put my property up behalf. That old mortgage is then
for collateral) you have to show 'released' and recorded in city
the lender proof that you own hall as paid in full.
that property, or that the seller
owns what he is selling. The title company takes care of
any taxes and fees regarding the
Property ownership is recorded in transaction, paying them on your
the district courthouse at the behalf so you don't have to deal
land records office. Every time a with it. They underwrite the
piece of real estate is purchased lenders insurance policy, as
or sold, both parties fill out required by the lender, and then
and sign a form. The sale, once facilitate the loan closing. A
recorded on file, becomes part of property owner may also purchase
that property's "chain of title" an owners title insurance policy,
- that being simply the "list" of to protect their interest in
property owners over time. This title.
"list" is available to the
public. The chain of title also So a title company will quite
includes any mortgages or liens possibly save you many headaches
on the property. Mortgages are in the long run, and also keep
attached to a property when a you out of trouble with their
expertise and guidance. You may knowledgable and professional
be treading thin ice if you title company to help you through
venture in to major real estate the process.
deals without the backup of a
About the Author:
Tim Sprye is a writer for Northeast Closing and Title Services , a NH Title Company.
Read more articles by:
Tim Sprye
Article Source: www.iSnare.com 
