What Is A Statement of Information, Why Is It Important?

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A statement of information is a form routinely requested from the buyer, seller, and borrower in a real estate 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.

Every day documents affecting real property liens, court decrees, and bankruptcies are recorded.  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.  The Statement of Information protects all parties involved and allows the title company to carry out its duties efficiently and without unnecessary delay!

The Statement of Information is important because, at worst, the failure to provide the information could prohibit the close of escrow.  Without the Statement, it may be necessary for the title company to list as exceptions from coverage judgments, liens, or other matters which may affect the property.  In order to prevent the loss of the deal, a Statement of Information is a critical and confidential tool that will help you close your deal faster and with efficiency!

For information on Ticor Title, or Statements of Information, please contact your Ticor Title Sales Executive!

Or Download Ticor’s PDF ‘Understanding Statements of Information’ here.

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