Kelly
Gonzalez, Broker 

Exit Realty Laredo
Laredo, TX
Broker/Owner
956-728-1114
 

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Statements of Information

What’s in a name?

When a title company seeks to uncover matters affecting title to real property, the answer is, “Quite a bit.”

Statements of Information provide title companies with the information they need to distinguish the buyers and sellers of real property from others with similar names. After identifying the true buyers and sellers, title companies may disregard the judgments, liens or other matters on the public records under similar names.

To help you better understand this sensitive subject, the Land Title Association has answered some of the questions most commonly asked about Statements of Information.

What is a Statement of Information?

A Statement of Information is a form routinely requested from the buyer, seller and borrower in a 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, matters which actually apply to some other person.

What does a Statement of Information do?

Every day documents affecting real property--liens, court decrees, bankruptcies--are recorded.

Whenever a title company uncovers a recorded document in which the name is the same or similar to that of the buyer, seller or borrower in a title transaction, the title company must ask, “Does this document affect the parties we are insuring?” Because, if it does, it affects title to the property and would, therefore, be listed as an exception from coverage under the title policy.

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. This protects all parties involved and allows the title company to competently carry out its duties without unnecessary delay.

What types of information are requested in a Statement of Information?

The information requested is personal in nature, but not unnecessarily so. The information requested is essential to avoid delays in closing the transaction.

You, and your spouse if you are married, will be asked to provide full name, social security number, year of birth, birthplace, and information or citizenship. If you are married, you will be asked the date and place of your marriage or registered domestic partnership.

Residence and employment information will be requested, as will information regarding previous marriages or registered domestic partnerships.

Will the information I supply be kept confidential?

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.

What happens if a buyer, seller or borrower fails to provide the requested Statement of Information?

At best, failure to provide the requested Statement of Information will hinder the search and examination capabilities of the title company, causing delay in the production of your title policy.

At worst, failure to provide the information requested could prohibit the close of your escrow. Without a Statement of Information, it would be necessary for the title company to list as exceptions from coverage judgments, liens or other matters which may affect the property to be insured. Such exceptions would be unacceptable to most lenders, whose interest must also be insured.

Conclusion

Title companies make every attempt in issuing a policy of title insurance to identify known risks affecting your property and to efficiently and correctly transfer title so as to protect your interests as a homebuyer.

By properly completing a Statement of Information, you allow the title company to provide the service you need with the assurance of confidentiality.

Article by CLTA

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Kelly Gonzalez | BROKER | Contact Us 
10414 Medical Loop B1 - Laredo, TX 78045
Copyright © , All Rights Reserved

Kelly Gonzalez Broker - Owner, B.A.
Commercial, Industrial, Residential & International Specialist
Broker Owner 
Commercial REO Consultant
Business and Commercial Financial Real Estate Consultant
State Instructor, Trainer, Mentor

Flor E. Gonzalez, Realtor
ABR, CSR, GRI, GREEN, RSPS, SFR, TAHS, TRC, TRLP



10414 Medical Lp Suite B1
Laredo, TX 78045
Phone: 956-728-1114
Email: exitlaredo@aol.com​

THE REAL ESTATE SOURCE, INC. 
dba EXIT REALTY LAREDO 
TEXAS REAL ESTATE CORP LICENSE # 0482743 

KELLY GONZALEZ, PRESIDENT 
BROKER OWNER & DESIGNATED SUPERVISOR 
TREC LIC # 0478417

FLOR E. GONZALEZ, REALTOR 
CORPORATE V.P. OF THE REAL ESTATE SOURCE INC. 
dba EXIT REALTY LAREDO 
TREC LIC # 0488968

Zip Codes Serviced

1. 78045
2. 78041
3. 78043
4. 78042
5. 78046
6. 78044

Testimonials

Estimado Lic. Gonzalez, De parte de mi familia les agradezco todo los servicios que le brindaron ha mi Padre y Madre en sus inverciones en Laredo y San Antonio. Saludo ha Flor y ha ti con todo corazon. Monica Garza V.
To Whom it May Concern: Rialto Capital Management is a real estate fund with real estate assets and holdings across the country. While my region of business was situated primarily in the Southern Nevada market, I managed a number of residential and commercial assets in Laredo, Texas. Every single one of my assets located in Laredo was listed with Kelly Gonzalez and his team at Exit Realty. Kelly and his entire team provided a level of service at the highest level and acted on our behalf with extreme quality and professionalism. Especially being an out of town prope1iy owner, it was very comf01iing knowing that Kelly could be counted on in all aspects of assisting in managing and selling our assets. Him and is team provided the perfect amount of communication, made prudent and sound decisions when required, and were trustwo1ihy through and through. At the end of the day, Kelly simply made life easier. I will continue to use Kelly for all of my real estate needs in Laredo and I wholeheaiiedly recommend him to others with real estate needs in Laredo. Eric Tan, Rialto Capital Management V.P.
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