What am I looking at?
Written terms and statues/legislation the Escrow Officer must follow
Escrow Instructions
PCOR (Preliminary Change of Ownership Report)
Buyer
What type of transaction? No disbursement through escrow; deed gets recorded by title company; client receives the title policy
Title Only Transaction
Instructs the escrow officer how to distribute seller's funds
Proceeds Instructions
Trust Certificate
Seller
What type of transaction? Deed gets recorded directly with county recorder and client pays property owner
Direct Pay Transaction
Summary of debits and credits associated with the transaction. Can be buyer, seller, or combined; estimated until final upon close of escrow
Settlement Statement
Escrow Instructions
Buyer & Seller (in counterpart)
What type of transaction? Acquisition with compensation over $10k, lien clearance (if directed by client), disbursement by Escrow Officer, and title insurance issued
Escrow Transaction
Confirms existence of valid Trust and details of Trust/Trustees
Trust Certification
Estimated Settlement Statement
Buyer & Seller
Document that informs the county assessor of a purchase in fee
Tax Cancellation Request
Provides details regarding document recording to the county assessor
PCOR (Preliminary Change of Ownership Report)
1099-S
Seller
HJA Form that lists all title exceptions shown on the PTR; confirms what items the client wants cleared vs. taking title "subject to"
Title Acceptance Form (TAF)