Our processing procedures

1 .   Set Up File upon receiving the purchase agreement.

2 .   Prepare an application for Title Insurance.

3 .   Assign a notarial secretary to coordinate the closing.

4 .   Gather the following information concerning the transaction:

a .      Copy of the titles containing the Legal Description of the property.

b .   Full legal names of the purchasers and the sellers along with marital status and any divorce information.

c .      New Mortgage Lender and Loan Officer.

d .      Existing Mortgage Lender and Loan Number.

5 . Begin the Abstract and Examination process.  (The Clerk of Court compiles all public records that affect real property. Their office is where the actual research and examination of the title property occurs.)

6 .  Determine if taxes are current or what taxes are owed.  DELINQUENT TAXES create a LIEN on REAL PROPERTY.

7 .  Perform Title Search by examining the current owners instrument of acquisition. Then the chain of title is formed by compiling all transfers on this property prior to the present owner for a minimum of 50 years back. Instruments which will be found in these records are:

a .      Cash Sales

b .      Mortgages

c .      Release of Mortgages

d .      Credit Sales

e .      Assignments

f .      Servitudes

g .      Restrictions

h .      Counter Letters

8 .   Check owners, past owners and the purchasers of the property are checked in the Mortgage and Conveyance Index to determine if any of the following have been filed of record, and could affect the title to the property:

a .      Judgments or Lis Pendens

b .      Federal Tax Liens

c .      Divorces or Legal Separations

d .      Wills

e .      Powers of Attorney

f .      Consent of Spouse Agreements

g .      Marriage Contracts

h .      Successions

9 .   Obtain copies of all documents affecting the title to the property.

10 .  Title Examination - All title examinations are done by attorneys.   A Title Examiner receives the file containing copies of all the documents affecting the property.  It is the Title Examiner's responsibility to review and evaluate these documents to determine the legal owner and the status of the title, as well as any requirements necessary to perfect the title.

11 .  Write a Title Report report of the Title Examiner's evaluation of the title.

12 .  Forward the file to the Notarial Secretary to prepare the Final Closing Documents. The Notarial Secretary implements the buyer, seller, and lender's instructions, prepares the closing papers and disburses all funds according to everyone's instructions. The transaction will not close until all instructions or requirements are met.