What is a title commitment?

A title commitment is a document issued by a title company that outlines the conditions under which the company is willing to issue a title insurance policy. It includes details such as the current ownership of the property, any liens or encumbrances on the property, and any restrictions on the use of the property.

The title commitment also typically includes a legal description of the property and a summary of the title search performed by the title company. This search is conducted to ensure that the seller has clear and marketable title to the property, meaning that there are no legal issues that could prevent the buyer from taking ownership of the property.

The title commitment is usually provided to the buyer and the buyer's lender before closing on the sale of the property. It is an important document that helps protect both the buyer and the lender from any potential title issues that may arise in the future.