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Escrow & Title

Escrow
Protected after escrow?
Condominiums as rentals?
Common Ways To Hold Title
Direct deeding is useful
Escrow is open
Comparing escrow fees
Learn about contingencies
Prepare for Escrow closing
Prorations it pertains to rent
Real estate taxes pro-rated
Real property vs. personal property
Real Estate Mathematics
The hidden cost of closing
Utility bills and escrow
escrow agents have to report?
Walk Through Inspection
 
Title
1031 reverse exchange
1031- Avoid capital gains tax
ALTA Policy
CLTA Policy
Community property tates
Creating a trust
Clouds on a title
Do condos need title insurance?
Deed
Deed of Reconveyance
Dealing with boundary disputes
Easements
Exceptions in title insurance
How much is title insurance?
Lis Pendens
Mortgages vs. deeds of trust
Not married? Joint tenants?
Proposed zoning change
Preliminary Title Report
Quitclaim deeds
Statement of Opinion
Title Insurance
Title insurance and builders
Your closing date-Who chooses?
Why you should have title insurance
Who pays for what Fees in Escrow

Do condos need title insurance?

Just like when you buy a house you need to get title insurance on a condo.  This is the only way that you care really protect yourself from any claims that may arise. You will also need to get a title search done in order to see if there are any defects in the title
or any liens on the condo. And when you purchase your condo unit you will not only get the deed to it you will also get partial interest in all of the shared areas like the pool and the common room.

There is one thing that you need to read carefully before you sign anything and that is the title report. You need to see if you can be help responsible for any liens that may be against the condo association. You do not want to have to pay any money for debts that they racked up previously. If you do find something that you object to paying then you will want to talk to your escrow agent. He or she will be able to help you out. Title insurance is necessary and on top of this insurance you may also need to get what is known as a condo endorsement. This endorsement will be attached to the title insurance policy for extra protection.

You will need to read all of the rest of your condo docs carefully as well. They will be attached to your deed. It is by reading all of these documents that you will find out all of your rights and your restrictions and your duties. You will get the info concerning the place where all of this is recorded but you will also want to get your own copy from your escrow agent. While it may be hard to understand some of these docs it is imperative that you do. If you have any questions ask your escrow agent for help.