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Bookmark or Share- Basics of the Title Commitment - Insured TitlesA Title Commitment is an important document that contains information specific to your transaction. To help you gain a better understanding of its importance, here is an overview of the basic sections commonly found in a Title Insurance Commitment:
- What is a Title Commitment and How Do I Read It?The title commitment is essentially our promise (i.e., commitment) to issue the title insurance policy after closing, and contains the same terms, conditions and exclusions that will be in the actual title insurance policy.
- Understanding and Reviewing the Title CommitmentA title commitment is a pledge by the title insurance company to issue a title insurance policy for the real estate transaction. It is called a commitment because title insurance policies are not issued until after a transaction is closed.
- Understanding the Anatomy of a Title Insurance CommitmentThe title commitment includes an explanation of any terms, conditions, exclusions, requirements, and exceptions that will be in the final policy. It also identifies specific requirements that need to be addressed prior to your closing.
- Homebuyers: Reviewing the Title Commitment Now Prevents ... - NoloA title commitment (or whatever name yours goes by) is basically the title company's promise to issue a title insurance policy for the property after closing. The title commitment contains the same terms, conditions, and exclusions that will be in the actual insurance policy.
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