WHAT WE DO
Junction Title Company is a title insurance agency that provides title insurance and closing services in connection with the issuance of title insurance on behalf of First American Title Insurance Company (the “Underwriter”).
Junction Title Company will order a title search to determine ownership of the property. The type of search ordered and the extent of any examination are determined under the guidelines established by the Underwriter in determining insurable title. The title search and examination is intended for use solely by Junction Title Company to evaluate if title is insurable, and if so, communicating the conditions on which a title insurance policy may be issued. The title search and examination is not intended for use by a customer for the customer’s own purposes. The search of the public record is performed for title insurance purposes only. If the customer wishes to have a search performed for another purpose, the customer should contact an abstractor and separately order and purchase such other search.
Junction Title Company may also order a survey of the property. The type of survey ordered is determined by using the title insurance guidelines established by the Underwriter and is for purposes of issuing a title insurance policy. It may also be required by your lender. In most instances, we will require a location drawing. A location drawing will disclose the approximate position of all structures and other improvements on the property in relation to the boundaries of the property. A location drawing may disclose if any improvements (i.e. fences, walls, buildings, pools, driveways, garages, steps, sheds, porches, decks, etc.) cross any building restriction lines or boundary lines. The location drawing will not afford any insurance protection in an Owner’s Title Insurance Policy, does not guarantee property corners nor property lines, exact property size, and may not be used for the construction of fences or other improvements on the property.
Junction Title Company will prepare a title insurance commitment in which it limits its own risk- by locating and excluding items from coverage- and not on behalf of any party to a real estate transaction. Any title insurance commitment issued (and any supplements or amendments thereto), is solely for the purposes of facilitating the issuance of a policy of title insurance, and is not a written representation as to the condition of title and may not list all liens, defects, and encumbrances affecting title to the land. The only product provided by the title agent is title insurance. The only services provided are closing services. A party who doesn’t purchase title insurance may not rely on the title insurer or its agent to protect his or her interests or to disclose all detrimental information contained in the public record. A party who desires protection against the possibility that negative information exists that was not revealed in the title agent’s or title insurer’s search of the public records and/or commitment must obtain title insurance. Junction Title Company will provide you with a copy of its title insurance commitment in advance of closing.
Junction Title Company will prepare the closing documents to include the requisite instrument of conveyance and the settlement statement. In doing so, Junction Title Company follows written instructions (i.e. contract of sale and lender’s instructions) to assist the parties in settling as agreed. In addition to the foregoing matters, Junction Title Company will record the instrument of conveyance (and any security agreement as may be required) among the appropriate land records, disburses all settlement funds and clears title to any liens satisfied at closing.
