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Services
1031 Exchanges
Handling and closing 1031 exchanges, which allows taxpayers to structure deferred like-kind exchanges, to provide that no gain or loss is recognized on the exchange of property held for productive use in a trade or business or for investment if the property is exchanged solely for property of like kind that is to be held either for productive use in a trade or business or for investment.
Title Examination
Identification of parties vested in title whose actions are required to convey or encumber real property; identification of interests of corollary parties vested with property interests acquired through marriage, divorce, probate, descent and distribution, and constitutional homestead rights; determination of capacity of entities or individuals to act; identification and determination of validity of encumbrances against title; identification of liens or judgments against parties in title which affect title to real property.
Closing the transaction
Preparation of settlement statement including the proration of taxes and other assessments and the allocation of costs in accordance with contract terms and/or lender directives; securing satisfaction of liens against title or parties in title; verification of identity of parties to the transaction; securing execution and recordation of documents required by contract and/or lender to satisfy conditions of closing.
Escrow Services
Collection and verification of funds from appropriate parties in accordance with Texas Department of Insurance mandates; verification that consideration has passed; disbursement and transmittal of funds as directed by settlement statement.
Issuance of title insurance
Indemnify property owner from loss, claims, or damages arising from matters not excluded from policy coverage; insure lien validity and priority to mortgagee.
- Assistance with securing contracts of sale prepared by affiliated attorneys for use in For Sale By Owner transactions
- Courtesy closings for lenders located outside Hockley County
- Title evidence and title insurance services for attorneys and/or title insurance agents outside Hockley County
- Assistance with securing property tax information
- Assistance with securing curative instruments and legal documents from affiliated attorneys
- Title certificates (limited title searches)
- Abstracts
Title insurance rates in the state of Texas are promulgated by the Texas Department of Insurance, and other costs vary depending upon the transaction. Please call our office for additional information.
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