A title company is a business that provides services related to real estate property titles. Their primary function is to ensure that the ownership of a piece of property is legitimate and free from any legal disputes or liens before it is sold, mortgaged or insured.
Title companies conduct research on property titles, review land records, and issue title insurance policies to protect buyers and lenders against losses due to defects in the title. They also help with the closing process of real estate transactions by preparing documents, handling escrow payments, and ensuring that all necessary paperwork is completed correctly.
In summary, a title company plays an important role in safeguarding property ownership rights and facilitating smooth real estate transactions.