Buying and selling real estate involves transferring large sums of money, which is why a title company will help to handle the transfer of these and documents. Security Title of Davis County is a neutral party in the buying and selling of property and we are committed to fast, efficient escrow services. We ensure that all conditions of the sale are met before the property and money are transferred to the correct parties.
Security Title of Davis County will impartially carry out the written instructions given by the buyer, seller, and lenders. We handle the receiving and transfer of funds and documents necessary to ensure successful completion of the escrow.
What is Escrow?
Escrow is a separate account that collects funds with your scheduled mortgage payment. The funds are used to pay future annual insurance premiums and taxes. Escrow accounts are beneficial as they allow money to be set aside to pay large costs that homeowners may not be able to pay otherwise. Removing the burden of providing a large tax sum and insurance costs give the buyer more control over their finances. Escrow payments are made for the life of the loan.
A property title is the document that transfers one person or business to another. A title will include several elements to clearly identify the property owner:
- The rights and interests published in public records
- The rights and interests that are not recorded but do exist
- The rights and interests that are hidden
Titles have rights and interests that can be owned by several people. We often deal with rights related to the transfer of the title in the event of a death. Liens for unpaid utilities or homeowner’s dues are other common areas we see when dealing with titles.
At Security Title of Davis County, we work hard to protect you against false impersonation, forged deeds, undisclosed heirs, mistakes in documents, and fraud. Contact our title company in Clearfield to discuss your escrow and title questions, 801-825-1313.
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I have worked with Security Title for over ten years. They have closed hundreds of loans for me. They are extremely knowledgeable, thorough, and above all, friendly. I recommend them for any and all title needs. My customers love them too! Simply the best!!!!