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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 Statement of Opinion A statement of opinion is what lawyers come up with once they have gone over all of the recorded documents that concern your title. While having a statement of opinion does not protect you like title insurance does it is still something that you need to have. This opinion is simply a record of what the lawyer has done in their search step by step. If your lawyer was to make any mistakes in their search and any title problems come up that they should have found then you can take them to court to recoup any losses that are their fault.  Since the lawyer cannot account for the hidden hazards you still need to get title insurance. This way you have covered all of your bases. In all states you will find the equivalent to title insurance. It may not be called title insurance but it will give you the same type of coverage. For instance in Iowa it is called title guarantee. Having this type of protection is necessary to clear your title so that problems such as fraud, incompetence, defective deeds and even such things as clerical errors or identical names do not come to haunt you.  You will only have to pay the premium for title insurance once and it is worth it to guarantee that the property is actually yours and no one can come forward to claim it. Before you get your title insurance you will need to get in touch with all the companies in your area to find the one that offers the best rates and services. Don't choose a new company, choose to work with one that has been in business for a number of years and that has a great track record. If you are working with a lawyer you can ask him or her to take care of the title insurance for you, they may work with a specific company on a regular basis. You will never have to get title insurance again, this one time premium payment will cover you and your heirs for life or as long as they hold the property.