First American Title Insurance Co is a leading title insurance company based in Santa Ana, California. The company was founded in 1889 and has been providing quality title insurance services for over 130 years. In this journal article, we will discuss the company’s history, services, and achievements.
History of First American Title Insurance Co
First American Title Insurance Co is a subsidiary of First American Financial Corporation, which was founded in 1889 by C.E Parker. Initially, the company started as an abstract company and provided property information to its clients. Later, it expanded its services to include title insurance services.
Over the years, First American Title Insurance Co continued to grow and expand its operations. In 1967, the company was acquired by First American Financial Corporation and became its subsidiary. Today, the company has a presence in over 70 countries and employs over 18,000 people worldwide.
Services Offered by First American Title Insurance Co
First American Title Insurance Co offers a wide range of services to its clients, including:
First American Title Insurance Co provides title insurance services to protect property owners from financial losses due to defects in the title.
The company offers closing services to help property owners complete the purchase or sale of a property.
First American Title Insurance Co provides escrow services to ensure that all parties involved in a transaction comply with the terms of the agreement.
Property Information Services
The company provides property information services to help clients make informed decisions about their real estate investments.
The company also offers specialized services, including commercial real estate services, 1031 exchange services, and home warranty services.
What is Title Insurance?
Title insurance is a type of insurance that protects property owners and lenders from financial losses due to defects in the title. The defects may include outstanding liens, undisclosed heirs, and other issues that may affect the ownership of the property.
Why do I need Title Insurance?
You need title insurance to protect your investment in a property. Without title insurance, you may be at risk of financial losses due to defects or claims against the title.
How does First American Title Insurance Co determine the Title’s condition?
First American Title Insurance Co conducts a thorough examination of the title to determine its condition. The examination includes a search of public records, including deeds, mortgages, and other documents related to the property. The company also conducts a survey of the property to identify any encroachments or other issues that may affect the ownership of the property.
What is Closing?
Closing is the final step in the purchase or sale of a property. It involves the transfer of ownership from the seller to the buyer and the payment of the purchase price.
What is Escrow?
Escrow is a process used in real estate transactions to ensure that all parties involved in the transaction comply with the terms of the agreement. The escrow agent holds the funds and documents until all the conditions of the agreement are met.
Achievements of First American Title Insurance Co
First American Title Insurance Co has received numerous awards and recognition for its outstanding services. In 2020, the company was named as one of the world’s most ethical companies by Ethisphere Institute for the fifth consecutive year.
The company has also received awards for its innovation and technology, including the 2020 Digital Mortgage Excellence Award and the 2019 Innovator Award.
First American Title Insurance Co is a leading title insurance company that has been providing quality services for over 130 years. The company’s commitment to innovation and technology has helped it to stay ahead of the competition and provide its clients with the best possible services. If you’re in the market for title insurance or other real estate services, First American Title Insurance Co is definitely worth considering.