Page 9 - California Home Sellers Handbook
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What types of information are requested in a What happens if a buyer, seller or
Statement of Information? borrower fails to provide the requested
The information requested is personal in Statement of Information?
nature, but not unnecessarily so. The At best, failure to provide the requested
information requested is essential to avoid Statement of Information will hinder the search
delays in closing the transaction. and examination capabilities of the title
company, causing delay in the production of
You, and if applicable, your spouse or your title policy.
registered domestic partner, will be asked to
provide full name, social security number, At worst, failure to provide the information
year of birth, birthplace, and information or requested could prohibit the close of your
citizenship. If applicable, you will be asked escrow. Without a Statement of Information, it
the date and place of your marriage or would be necessary for the title company to
registered domestic partnership. list as exceptions from coverage judgments,
liens or other matters which may affect the
Residence and employment information will property to be insured. Such exceptions
be requested, as will information regarding would be unacceptable to most lenders,
previous marriages or registered domestic whose interest must also be insured.
partnerships.
CONCLUSION: Title companies make every
attempt in issuing a policy of title insurance to
Will the information I supply be kept identify known risks affecting your property
confidential? and to efficiently and correctly transfer title so
The information you supply is completely as to protect your interests as a homebuyer.
confidential and only for title company use in By properly completing a Statement of
completing the search of records necessary Information, you allow the title company to
before a policy of title insurance can be provide the service you need with the
issued. assurance of confidentiality.
Reprinted with the permission from the California Land Title Association.
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