A title company verifies that the title to a piece of real estate is valid/legitimate and then issues title insurance for the property. They ensure that a seller has the rights to sell the property to a buyer.

In Indiana, we use title companies backed by national insurers. Title companies, lenders, real estate agents, and attorneys handle closings. Some states require attorneys to handle closings and perform a range of services as closing agents. A benefit of using an attorney as the closing agent, is the client has legal representation throughout the transaction, from contract negotiations through closing and has counsel able should any legal issues arise.

A title company cannot provide legal advice, input, or guidance.  Title companies also often maintain escrow accounts. Generally they act as agents of the insurance company, the buyer, the seller, and any other parties related to a real estate transaction, such as mortgage lenders. The title company reviews title, issues insurance policies, facilitates closings, and files and records paperwork. 

Terms to be familiar with in the process...

A deed is a legally binding document used to transfer property from one owner to another.

A title is the actual piece of documentation that says you own the property. 

Your lender, lawyer, or real estate agent may recommend a title company for you.  You can choose who would be best for you; just like when your shopping for the best agent and loan officer. If you’d like to shop around for savings you have the right to do so. We here at Inhabit the Land would be glad to connect you to one of our partners who'd best fit your needs and help you smoothly seal the deal!