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What is a Land & Title Company? And what do they do?

What is a Land & Title Company? And what do they do?
  • PublishedMarch 9, 2023


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If you’ve recently bought a new home or work in the real estate industry, you’ve definitely heard of a land and title company.  As owner and operator of Hopkins County Abstract in Sulphur Springs, I’m often asked the following questions.

 

“Now, what is it that you do?”  … “Okay, what is that?”

 

My answer to these questions can vary a bit. But here are the basics:

Buyers and real estate agents have agreed to buy and sell by Handshake to rent or buy a house after the documents have been signed within the office.

  • We process real estate transactions between seller and buyer. We do this by insuring the transaction with a title insurance policy for the buyer, or loan insurance policy for the lender involved.

 

  • We act as a neutral party to the transaction by assisting with the sale of the property, or closing, by holding the funds to be disbursed from buyer to seller per the contractagreement.

 

  • We also house records from all real estate transactions in Hopkins County. Dating back to the original land grants establishing the county. Our records, called a “Plant” (required for ownership of a title company) are one of the tools use to trace the chain of title of a tract of land.

 

  • We work to ensure the seller has the legal right to sell the property and the buyer is buying a property with no outstanding interest from heirs or liens. (We’ll talk more about this another day)

 

It might sound mundane, but is actually very interesting and very rewarding!

Having the ability to help people buy their first home, sell property, add to their investment portfolio, or downsize to take care of loved ones – ALL while preserving a piece of Hopkins County history is a blessing.

 

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So now you may wonder, what starts this process?

A signed contract between the buyer and seller is brought directly to the title company by either the buyer, seller, real estate agent, or lender. Many don’t know this but you *have the right to choose the title company you want to work with! And it is a point of negotiation within the sales contract. Typically, whomever agrees to pay for the owner’s title policy chooses the company.

 

 

We then begin the process of confirming the seller *actually owns* the property to be sold with a title search. A title search consists of:

1. Studying the Chain of Title by verifying the property’s ownership history. This makes sure ownership was transferred properly from previous owners in the past and spouses are aware and on board. (Heirship – a huge topic to be further discussed.)

2. Ensuring taxes on the property are paid and current.

3. Looking for judgements or liens against the seller.

 

So long story short, that’s what we do at Hopkins County Abstract. I would love for you to follow along as I further explain our process and answer any questions you may have about your local land and title company. Feel free to stop by the office anytime! We always have hot coffee and welcome your questions.

 

– Kristen Monk, Owner of Hopkins County Abstract

 

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Written By
Christian Dicus

Christian Dicus is a Sulphur Springs, Texas native. She currently works as the Director of Operations and Content Strategist for Chad's Media LLC. As well as a photographer and contributing writer for Front Porch News.