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What is a Statement of Information and How Does it Relate to the Title Process?

June 21, 2017

Whether you’re buying, selling, or refinancing a property, there are many individual components and documents involved in the process. In almost all cases, a Statement of Information is requested to help verify information so that title to your property may be cleared. Here, we will talk a little bit more about a Statement of Information so that you’re better able to familiarize yourself with the title process.

What is a Statement of Information?
A Statement of Information is a request for information about you and in some instances about a spouse or partner to help our team conduct thorough, accurate research so that title can be cleared.

Why is a Statement of Information Needed?

There are several pieces of information that are needed for a Statement of Information. These types of information include things such as employment information, past addresses, and other identifying information. It’s important to fill out the information in its entirety and sign the document.

How Will the Information be Used?
There are many individuals with similar names. The Statement of Information is used to help identify you and provide the most accurate information possible when clearing a title. When clearing a title, sometimes information on the lien document doesn’t exactly match your name. With a Statement of Information, your FNT team can complete the title clearing process more quickly by clarifying and verifying that it is indeed your information. Additionally, the information provided can help to detect any fraud that may be associated with your property.

Is My Information Protected?
Your personal information provided in the Statement of Information is compliant with the Privacy Act. Additionally, measures are taken to protect the information that you’ve provided. Such a document will only be used to help clear title. It will not be shared with any outside companies or agencies, nor will any Credit Reporting Agencies be contacted or allowed access to the sensitive material.

To learn more about a Statement of Information and how it relates to buying, selling, or refinancing your property, contact your Fidelity National Title Sales Executive!