Why Do I Need Title Insurance?
Many homeowners assume that when they purchase a piece of property that possession of a deed to the property is all they need to prove ownership. This is not true. You and your Lender will want to make sure that the property is indeed yours and that no one else has any lien, claim or encumbrance on the property. A property owner's greatest protection is an Owner's Title Insurance Policy. Your Lender will also seek protection with a Lender's Title Insurance Policy. Montana Title and Escrow can issue both policies simultaneously.
What is Escrow?
Buying or selling real estate usually involves the transfer of large sums of money. It is imperative that a neutral third party, such as Montana Title and Escrow, handles the transfer of funds and related documents from one party to another. It is essential that all conditions of the sale are met before the property and money change hands. The Escrow Holder impartially carries out the written instructions given by the principals (buyer, seller and lender). This includes receiving funds and documents necessary to comply with those instructions, completing or obtaining required forms and handling final delivery of all items to the proper parties upon the successful completion of the escrow.