Page 7 - Seller Resource Guide
P. 7

A properly completed Statement of Information              What happens if a buyer, seller or borrower
     will allow the title company to differentiate              fails to provide the requested Statement of
     between parties with the same or similar names             Information?
     when searching documents recorded by name.                 At best, failure to provide the requested Statement
     This protects all parties involved and allows the          of Information will hinder the search and
     title company to competently carry our its duties
     without unnecessary delay.                                 examination capabilities of the title company,
                                                                causing delay in the production of your title policy.
     What types of information are requested in a
     Statement of Information?                                  At worst, failure to provide the information
                                                                requested could prohibit the close of your
     The information requested is personal in nature,           escrow. Without a Statement of Information, it
     but not unnecessarily so. The information                  would be necessary for the title company to list
     requested is essential to avoid delays in closing the      as exceptions from coverage judgments, lines or
     transaction.                                               other matters which may affect the property to be
                                                                insured. Such exceptions would be unacceptable
     You, and if applicable, your spouse or registered          to most lenders, whose interest must also be
     domestic partner, will be asked to provide full            insured.
     name, social security number, year of birth,
     birthplace, and information of citizenship. If             CONCLUSION:
     applicable, you will be asked the date and place of        Title companies make every attempt in issuing
     your marriage or registered domestic partnership.
                                                                a policy of title insurance to identify known
     Residence and employment information will be               risks affecting your property and to efficiently
     requested, as will information regarding previous          and correctly transfer title so as to protect your
     marriages or registered domestic partnerships.             interests as a homebuyer. By properly completing
                                                                a Statement of Information, you allow the title
     Will the information I supply be kept                      company to provide the service you need with the
     confidential?
                                                                assurance of confidentiality.
     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.














     Reprinted with the permission from the California Land Title Association.
     10/2021 | © 2021 Old Republic Title | OR2438-DI | Old Republic Title is providing this information as a free client service and makes no warranties or
     representations as to its accuracy.
     Old Republic Title strongly recommends consumers confer with their title insurer as underwriting requirements vary among companies and further, obtain
     guidance and advice from qualified professionals, including attorneys specializing in Real Property, Trusts and/or Title Insurance to get more detailed, and
     current, information as to any particular situation affecting them.






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