Title Commitment vs Title Report

Do you know the difference between a title commitment and a title report? While these documents may sound similar at first, they actually serve very different purposes and should not be confused. As your trusted title company at the Lake of the Ozarks, Arrowhead Title is here to help clear up any misunderstandings you may have about title commitments and title reports.

Title Commitments

Title commitments are issued when someone is in the process of buying a home or piece of property. After the title search has been conducted (that is, after your title company has thoroughly researched the public documents for any pertinent information regarding the property), the next step is to issue the title commitment. 

The title commitment is exactly what it sounds like: a commitment to provide title insurance to the lender and the buyer under the terms described. The title commitment outlines the conditions and exceptions that will impact the title insurance policy.

Conditions to the Title Commitment are requirements that must be met in order for the title insurance policy to be issued. Examples of these conditions include:
  • The seller paying off his/her mortgage
  • Payment of all liens against the property at the time of sale
Exceptions to the Title Commitment outline certain situations that the title insurance policy will not cover. These exceptions typically include things like:
  • CCR's (Covenants, Conditions, and Restrictions) concerning your use of the property

Thanks to the title commitment, the lender and buyers know exactly what will be covered and what will not be covered in their title insurance policy.



Title Reports

Unlike title commitments, title reports generally not issued during a real estate transaction. Instead, title reports are issued to people who simply want to know more about or conduct an investigation on a piece of property, such as:
  • Heirs who have recently come into possession of the property
  • Non-profit organizations who are having a piece of property donated to them
  • Divorced men/women who want to know if their ex still has some ownership of the property
  • Anyone else who wants to know what's really going on with their property, including:
    • Banks
    • Attorneys
    • People who are thinking about selling their home
People obviously order title reports for a variety of different reasons, then, but they usually are not involved in a real estate closings. 

Keep in mind that a title report is just that - a report containing valuable information regarding a specific piece of property. The title report is not an agreement to provide title insurance to the buyer or current owner of a piece of property. If you want to purchase title insurance to protect your investment on a piece of property, you will have to do so separately.

Arrowhead Title - We've Got Your Back!

If you're in need of a title insurance company at the Lake of the Ozarks, give Arrowhead Title a call! We've been serving the Lake Area since 1984, and we are dedicated to serving each of our clients with the utmost integrity and accuracy. We would be honored to help you with all of your title insurance needs!


Where Accuracy Matters!




Comments

  1. Very wealthy information. And those key points in which you had mentioned is very useful and also some valid points too. Really nice thank you so much

    Medical Insurance Dubai

    Health Insurance Dubai

    Insurance Companies in Dubai

    ReplyDelete

  2. instructive and much intriguing site which connected with me more.Spend a worthful time.Good work author.keep refreshing more.
    Online Tax Services
    Tax Professional
    Online Tax Preparation
    Income Tax Preparation

    ReplyDelete
  3. instructive and much intriguing site which connected with me more.Spend a worthful time.Good work author.keep refreshing more.
    Online Tax Services
    Tax Professional
    Online Tax Preparation
    Income Tax Preparation

    ReplyDelete
  4. Thank you for sharing this information. It has helped me to know more about
    how to buy property

    ReplyDelete
  5. Thanks for sharing the blog, seems to be interesting and informative too. Can you suggest some of the interesting places to visit for Best Insurance Company In India

    ReplyDelete
  6. Thank you for sharing this information. It has helped me to know more about
    best places to buy property

    ReplyDelete
  7. Thank you for sharing this information. It has helped me to know more about
    home loan process

    ReplyDelete
  8. I will recommend anyone looking for Business loan to Le_Meridian they helped me with Four Million USD loan to startup my Quilting business and it's was fast When obtaining a loan from them it was surprising at how easy they were to work with. They can finance up to the amount of $900,000,000.000 (Nine Hundred Million Dollars) in any region of the world as long as there 1.9% ROI can be guaranteed on the projects.The process was fast and secure. It was definitely a positive experience.Avoid scammers on here and contact Le_Meridian Funding Service On. lfdsloans@lemeridianfds.com if you looking for business loan,Thanks.
    Leslie,

    ReplyDelete
  9. Thanks for sharing the blog, seems to be interesting and informative too. Can you suggest some of the interesting places to visit for Insurance Plans

    ReplyDelete
  10. Our objective is to take care of all of the details and headaches that include owning and selling real estate so that you don't have that stress on you. If you want to get more interesting details about frankel realty group, you may find out here.

    ReplyDelete
  11. we got very good information from your blog
    Mizte

    ReplyDelete
  12. Thank you for sharing this information it has helped me to know more about car insurance

    ReplyDelete
  13. It was a great blog i had ever read.Thanks for sharing the blog, seems to be interesting and informative too.Could you help me finfing more detail regarding Online Third Party Insurance

    ReplyDelete
  14. If you had financial problems, then it is time for you to smile. You only need to contact Mr. Benjamin  with the amount you wish to borrow and the payment period that suits you and you will have your loan in less than 48 hours. I just benefited for the sixth time a loan of 700 thousand dollars for a period of 180 months with the possibility of paying before the expiration date. Make contact with him and you will see that he is a very honest man with a good heart.His email is lfdsloans@lemeridianfds.com and his WhatApp phone number is + 1-989-394-3740 

    ReplyDelete
  15. I am very grateful to Elegant loan firm for helping me get a $ 600,000 loan with the helping of loan officer Russ Harry, and I will always be grateful. My life has changed, my money has been paid, I now own a business that I used to support my family. I am grateful to you, Mr. Russ, and God bless you. You can contact them for your financial assistance by e-mail: Elegantloanfirm@hotmail.com for your financial assistance.

    ReplyDelete
  16. This comment has been removed by the author.

    ReplyDelete
  17. If you are planning to have a bigger place at home, it is recommended that you get the assistance of architects who can make your house more attractive and stylish by designing the interiors, walls and roof. Here you can find out more details about condos in singapore.

    ReplyDelete
  18. Commercial rents depend on the size of the building, the number of tenants, as well as the type of property. Industrial buildings with low ceilings or relatively high walls are more costly to rent than others. If you are curious to know more about property on lease visit here.

    ReplyDelete
  19. With major regeneration on the way, comes a new urban aesthetic pleasing to the eyes and makes for an exciting place to live. An apartment in one of these properties will give you the space and freedom. If you are curious to know more about real estate agent, read me.

    ReplyDelete

  20. then the notice are often left with an adult at the house or workplace and replica is mailed to the tenant reception by first-class mail. Lastly,
    How to Stop Eviction in California

    ReplyDelete
  21. Dubai Escorts Dubai Escorts: book real escorts in Dubai, adult and erotic services from independent and agency escorts, massage girls, callgirls, outcall and other entertainers. Abudhabi Escorts Are you looking for escort girls in Abu Dhabi or maybe just horny escorts for escort service or paid sex dating Ajman Escorts High Profile Escorts Service In Ajman, Full Enjoy Genuine Ajman Escorts Service. 100% Real Independent Escorts Service Ajman. Goa Escorts Goa Escorts Agency offering for Call girl in Goa, Cheap and Best Escorts in goa Date Me Tonight Real girls photo & VIP Modeling girls. Escorts in istanbul Call Girls Istanbul provides you with busty young A-Level Escort Girls from Turkey, Russia & Middle East - Top 24 Hours Hotel Outcall Escorts Istanbul. Istanbul Escort Service İstanbul Escorts - İstanbul Escort Girls Vip Escorts İstanbul Girl Escorts Travel Escort Girls İstanbul Escort Ladies İncall Escort İstanbul Escort Girl Outcall Escorts Indian Escorts in Dubai We are providing actresses and celebrities escorts from Indian film industry as an escorts in Dubai. If you love girls from Bollywood or Tollywood cekebrity

    ReplyDelete
  22. If you do not have a lot of cash to spend, it would also be better to look for someone who has a big reputation yet. Try to contact at least three of the real estate agents you are considering. If you want to get more interesting details about fisks london, you may go here.

    ReplyDelete
  23. Professional, knowledgeable staff will guide you though the region and ensure your next transaction is a fun experience. Whether it's a vacation home, apartment or even a place to live, Wappingers Falls, Dorset can provide you with what you're looking for, no matter what you're looking for. Source to get more info about Estate Agents Wapping.

    ReplyDelete
  24. Thank you so much for sharing all this wonderful information with us It is so appreciated! keep writing something on Title and Settlement Services You always have good humor in your posts/blogs

    ReplyDelete
  25. Holiday parties are an excellent way to meet your neighbors. Residents regularly gather for games of tennis, shuffleboard, and horseshoes. This community is truly a great option for those looking for a low-maintenance lifestyle. Click here to get more information about property management.

    ReplyDelete

Post a Comment

Popular posts from this blog

Why Would I Need a Title Search vs Owners and Encumbrance

What Happens If You Don't Pay Your Personal Property Tax?