Question

Both the seller’s and buyer’s opening escrow packages have some of the same documents. Which document in the opening package is a one-page form that buyers and sellers complete with their personal information so the title company can differentiate between parties with the same or similar names when searching documents recorded by name?

Answer 1

Answer:

Statement of information

Explanation:

The statement of information must be filled out by both the buyer and the seller. This document is used for requesting title insurance. Title insurance protects the buyer from any problems related to the title of the real estate property. The title is the evidence that the seller is the real owner of the property. Before issuing the policy, the title insurance company checks the property's title and searches for any problems or defects that might exist regarding the property.