Welcome or Register

Thank you for visiting today. If this is your first visit, take your time and look around. We have plenty of information and resources available to you. If you are a return visitor, thank you. We would love to hear from you and tell you how We can serve all your real estate needs.

Back to Table of Contents

Statements of Information

What’s in a name?

When a title company seeks to uncover matters affecting title to real property, the answer is, “Quite a bit.”

Statements of Information provide title companies with the information they need to distinguish the buyers and sellers of real property from others with similar names. After identifying the true buyers and sellers, title companies may disregard the judgments, liens or other matters on the public records under similar names.

To help you better understand this sensitive subject, the Land Title Association has answered some of the questions most commonly asked about Statements of Information.

What is a Statement of Information?

A Statement of Information is a form routinely requested from the buyer, seller and borrower in a transaction where title insurance is sought. The completed form provides the title company with information needed to adequately examine documents so as to disregard matters which do not affect the property to be insured, matters which actually apply to some other person.

What does a Statement of Information do?

Every day documents affecting real property--liens, court decrees, bankruptcies--are recorded.

Whenever a title company uncovers a recorded document in which the name is the same or similar to that of the buyer, seller or borrower in a title transaction, the title company must ask, “Does this document affect the parties we are insuring?” Because, if it does, it affects title to the property and would, therefore, be listed as an exception from coverage under the title policy.

A properly completed Statement of Information will allow the title company to differentiate between parties with the same or similar names when searching documents recorded by name. This protects all parties involved and allows the title company to competently carry out its duties without unnecessary delay.

What types of information are requested in a Statement of Information?

The information requested is personal in nature, but not unnecessarily so. The information requested is essential to avoid delays in closing the transaction.

You, and your spouse if you are married, will be asked to provide full name, social security number, year of birth, birthplace, and information or citizenship. If you are married, you will be asked the date and place of your marriage or registered domestic partnership.

Residence and employment information will be requested, as will information regarding previous marriages or registered domestic partnerships.

Will the information I supply be kept confidential?

The information you supply is completely confidential and only for title company use in completing the search of records necessary before a policy of title insurance can be issued.

What happens if a buyer, seller or borrower fails to provide the requested Statement of Information?

At best, failure to provide the requested Statement of Information will hinder the search and examination capabilities of the title company, causing delay in the production of your title policy.

At worst, failure to provide the information requested could prohibit the close of your escrow. Without a Statement of Information, it would be necessary for the title company to list as exceptions from coverage judgments, liens or other matters which may affect the property to be insured. Such exceptions would be unacceptable to most lenders, whose interest must also be insured.

Conclusion

Title companies make every attempt in issuing a policy of title insurance to identify known risks affecting your property and to efficiently and correctly transfer title so as to protect your interests as a homebuyer.

By properly completing a Statement of Information, you allow the title company to provide the service you need with the assurance of confidentiality.

Article by CLTA

Back to Table of Contents

Testimonials Page

Melissa Oliver was such a delight to work with, she had such a great energy and realism about her. And she walked us through the process every step of the way. And always had our best interest at heart. We trusted her advise and insight she really know what its all about. We are so glad she was there for us and would use her again if needed. Mimi Rajnak
What a great buying experience!! Melissa and the "O" team were amazing and we can't give them enough praise for their efforts. They were very quick to respond to our needs and were on top of the process the whole way. We found the home of our dreams and we have the "O" team to thank!! Visit their office, you wont be disappointed. Josh R.
Melissa is a Real Estate professional serving the Mother Lode Communities with top quality service and expertise. Her understanding of the local market is second to none and her ability to help buyers and sellers both is outstanding. Thanks you Melissa, for being a part of my experience. Rick Daniel
Definitely recommend Melissa and her team..great real estate agent!!! Sylvie Williams
Melissa has come though for me in all my real estate needs..Always going far beyond my expectations!!! She knows the area like the back of her hand...Should be anyones first choice here in the Motherlode! John Chiarpotti
Very knowledgeable and experienced. Would strongly recommend her to anyone with any real estate needs. Hands down the best Realtor in the county! Jacob Ramsey
View All
Real Estate Websites by iHOUSEweb iconiHOUSEweb | Admin Menu