Capital Abstract & Title, LLC



What has Capital Abstract & Title done in preparation for new RESPA-TILA regulations?

Capital Abstract & Title Company is pleased to report to our customers that the staff at Capital is ready to assist area lenders, Realtors and consumers under the new mortgage TILA-RESPA Integrated Disclosure (TRID) Rules. Our company has worked diligently to obtain an understanding and implementation of the federal changes, as well as undergo training on the new disclosure forms and timeframes. Each of our closers is prepared to provide you with services in a manner to ensure that your closings go smoothly under the transition and in compliance with the new regulations.

Capital also submitted its written policies and procedures to a third party independent auditor for review of our compliance with ALTA Best Practices. We are proud to announce that the auditor found our settlement; title production, escrow management and all other best practice procedures met ALTA guidelines. Our employees recently underwent a refresher on our policies under each of the ALTA pillars and we continue to monitor our internal processes for compliance.

Our Company is fortunate to work with some of the best realtors and lenders in Arkansas. We look forward to continuing those relationships and growing in both the River Valley and NWA, serving each of you with offices in Fort Smith, Fayetteville and Jonesboro.


Where can I learn more about the terms and phrases used in escrow transactions?

Fidelity National Title maintains a glossary of definitions, meanings and descriptions of significance for many of the industry’s most frequently used terms.
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There are additional words and phrases I need help understanding. Is there an alphabetical list of definitions I can browse?

You can a detailed list of definitions at Fidelity National Title.
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What information is needed to open an escrow transaction?

The following information is the minimum required:


What documents and information does the settlement agent require?

The initial list of documents and information needed by the settlement agent are as follows:


What is a Tenant Estoppel?

A Tenant Estoppel is a document signed by the tenant confirming the terms of the lease. By the nature of an “estoppel”, the tenant would be estopped (prevented) from asserting any other rights in the future other than those stated in the lease.

Tenant Estoppels are typically a contractual issue between buyer and seller. It is the responsibility of the seller to provide a form of Estoppel that is acceptable to the buyer, to obtain the tenants’ signature and to deliver the estoppels to the buyer.


How are prorations assigned?

The escrow settlement agent will allocate between seller and buyer their proportionate share of an obligation paid or due. For example, a pro-rata share of real property taxes or homeowner’s association dues are charged to the buyer and credited to the seller if they are prepaid at time of closing. The amounts prepaid are calculated per day from the date of closing to the date that they are paid to as follows: