In Rhode Island, a buyer of real estate or a home owner refinancing their current mortgage has the legal right to choose your own title attorney. Often times during the buying or refinancing process, the consumer will be referred to a number of people involved in the process. This could include an appraiser, a loan officer, a home inspector or a real estate attorney.
It is important to explain the role of the title attorney. A lender is not required, under Rhode Island state law to allow the consumer to choose the closing attorney.
The title attorney examines the title on the property. This is where any liens or clouds on title are discovered. The title attorney will often clear any clouds on title before sending the title commitment to the closing attoney and the lender. The title commitment is the document that commits to right title insurance on the property subjsct to any liens on the property being discharged.
The closing attorney is the attorney that actually conducts the closing. This attorney will prepare the settlement statement and the closing package.
Often times, the title attorney will be more invloved in the process. This attorney may attend the closing if you wish and will explain the settlement statement and closing package to you. Its your choice in Rhode Island, you can hire your own title attorney or let someone else pick it for you.