This month’s Escrow Tip comes from Ashley Melton, Escrow Officer in our Lake Oswego Branch.
Are you working with an Absentee Owner?
An absentee owner is an individual or entity that owns a property but is not physically there.
This type of ownership is common in real estate. An example would be where investors might own properties they do not live at or near.
We highly suggest ordering a TRIO to confirm who is vested in title.
TRIO’s can be ordered with our customer service team, ticor.resource@ticortitle.com
Red Flags for Absentee Owner Transaction:
- Quick closing date
- All cash transactions
- Limited communication
- Sudden changes
- Unclear or incomplete documentation
- Out of the state / country
We have measures in place to help protect you and your clients.
Please be aware that Absentee Owner is on the rise. Please reach out to your Escrow Officer if you have any questions.
