Services

TITLE AND ESCROW SERVICES

The Law Office of Jayr Heil, P.L.L.C. provides title and escrow services for its clients. Title insurance provides homebuyers and lenders with vital protection against losses from certain title issues including forgery, fraud, and liens.

 

Title

A property title is the vehicle in which ownership  transfers from one person or business to another, and is composed of three basic elements: 

  • Rights and interests that are published in public records or by inspection of the property (such as deeds, mortgages and leases);
  • Rights and interests that are not recorded but exist (such as limitations imposed by laws and statutes);
  • Rights and interests that are hidden (such as forgeries, secret marriages and unknown heirs). 

Every title is made up of many different “rights” and “interests” that may be owned by different people. The most valuable rights and interests are owned by the property’s owners, but others may also have rights to the property, such as liens for unpaid utilities, homeowner’s dues or mortgages.

Contact us to learn more about The Law Office of Jacyr Heil, P.L.L.C. title insurance, escrow and real estate services. 

Escrow

Buying or selling real estate usually involves the transfer of large sums of money. It is imperative that a neutral third party 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 esEscrow

What is a Fee Attorney?

A Fee Attorney refers to a lawyer who has entered into a contractual relationship with a title insurance company, or an agent of a title insurance company, to close real estate transactions on its behalf in exchange for a portion of the title premium.  In Texas, title insurance premiums are established by the Texas Department of Insurance and must be charged as promulgated.  Other states allow for a range of premiums or even complete discretion on the part of the insurance company as to what is charged.
The business of title insurance consists of three basic functions:  a title search, closing the transaction (escrow), and issuance of a title policy or policies.  A Fee Attorney performs the closing function.  Most all title companies (the agent) or title insurance companies (the underwriter) also have their own employees who handle closings.  For the public, it is often hard to tell whether a title closing office is a company owned office or a Fee Attorney office.  An attorney who is directly involved in his or her Fee Attorney operation can be a valuable resource for parties seeking guidance or expertise on certain title or closing issues.The Fee Attorney may prepare a contract and advise the buyer on certain issues.  The Fee Attorney would also suggest that the transaction close at the Fee Attorney’s office.  The seller may need assistance with title curative matters or need a deed prepared, and a lender may need loan documents prepared.  The Fee Attorney can perform all of these functions if the situation allows.