Hiring your own title company gives you piece of mind. You know they have no one’s interest before yours. They will make sure any gray areas in handling the closing are done in your favor. Think of it as hiring your own attorney.
A title company facilitates a real estate transaction between a buyer and seller. The title company searches for any liens on the property, collects all of the funds and holds them in escrow, prepares all of the documentation to transfer title, disburses all of the funds to the appropriate parties at closing and insures the buyer against any claims to the title that may appear after the closing. The title company acts as an independent third party to the transaction. They have no vested interest in either the buyer or the seller and therefore work objectively, similar to a judge in a courtroom.
Real estate title law is governed by statutes passed by that State’s legislature and Departments of Insurance or Professional Regulation. However, a title company has some leeway in how they interpret those laws and regulations. Everything is not always black and white. For example some title companies will ignore a lien against a property if it is more than ten years old while others will insist it be satisfied. Some title companies will hold money in escrow if something can’t be cleared up on title before closing and others will not. The determining factor in these decisions is normally what will make the title companies client happy.
Since I have been in McLeansboro, one of the companies I have had the pleasure of working with is VanWinkle and VanWinkle. Attorney James L. Van Winkle has been practicing law since 1977. He and his trusted staff have accurately and efficiently address my need and the needs of my clients since my first contract. The next time you need Professional Legal Advice in the area of Business and Real Estate Law contact Van Winkle & Van Winkle Law Firm.
Van Winkle & Van Winkle Law Firm is a general practice firm located in McLeansboro, Illinois. We handle General Civil and Trial Practice, Commercial Litigation, Real Estate, Probate, Corporate, Oil and Gas, Banking Creditor Rights, Creditor Bankruptcy, Estate Planning, Wills & Trusts, Complex Business Related Domestic Relations Cases.