I WANT TITLE INSURANCE; WHAT IS THE PROCEDURE?

Even though we are not a title insurance agent, we can co-ordinate with the title insurance agent for you. First, you need to request that a Title Research be performed on the aircraft. Additionally, a Title Research should be performed separately on any engines or propellers which exceed 750 horsepower. This provides us with the current status of the records so that we know what documents are needed to transfer ownership (if necessary) and to reach the desired lien status. Note: The Title Insurance Company may decline to cover unusual matters.

Next, all of the (originally signed) documents needed for filing with the FAA and the Title Insurance premium must be forwarded to Dixie Aire Title Service, Inc. for Closing or Escrow purposes. This is necessary to assure all parties, including the Title Insurance Company, that nothing new has been received by the FAA and that all documents are in proper order.

A CLOSING is an Escrow of Documents* (only), monitoring of the document index**, and a notification of exact filing time faxed to you and the Title Insurance Company.

*to be filed only upon proper authorization.
**for comparison against a preliminary report

In an ESCROW, both funds and documents are held in trust by one of our three experienced professional Escrow Agents (who are also fully trained Title Examiners). The funds are completely protected by a fully functioning TRUST ACCOUNT. The Escrow Agent works for the mutual benefit of all parties involved. For more detailed information about Escrow Services, please ask to speak to an Escrow Agent.

After the Closing/Escrow has been completed, we will forward to you a Confirmation of Filing and the Title Insurance Policy issued by the Title Insurance Company.

We will continue to monitor your documents throughout the FAA recording process (approximately 4 to 12 weeks). Once the recording process has been completed and an updated record obtained, we will provide both you and the Title Insurance Company with a Recording Confirmation and a Title Research After Recording to complete your records.

If you have any questions, please call us. We look forward to working with you.