Title Insurance…Protecting Your Home Investment
When purchasing a home, you are purchasing the title to the property not the actual structure or land. The seller will transfer ownership by a deed. A deed is an instrument only by which a seller transfers their right of ownership, whatever that may be. It does not disclose or determine what rights, liens or claims may be outstanding against the title. Title insurance protects against these types of hazards.
Title Insurance protects against loss from defects that already exist in the title.
Two Basic Types Are:
- Owners protection
- Lender or mortgage protection
Owner’s Policy of Title Insurance
Owner’s coverage insures the policyholder or the heirs as long as you hold an interest in the property. This policy gives you the best prevention for avoiding title claims or loss.
A title search is performed of the public land records affecting the real estate concerned. An agent or attorney on behalf of its underwriter examines the information to determine whether the property in insurable. The examination is intended to report any defects in the “chain” or history of title or of specific documents in the chain. Some examples that can present concerns are as follows:
- Deeds, trusts, wills that contain improper language or incorrect names.
- Outstanding mortgages and judgments, or a lien against the property because the seller has not paid taxes.
- Pending legal action against the property that could affect a purchaser.
- Incorrect notary acknowledgements
- Easements that allow construction of a road or utility line.
Title Insurance offers financial protection against these and other covered defects. The title insurer will pay to defend against an attack on title as insured, and will either perfect title or pay valid claims.
One Time Premium
The original premium is your only cost for as long as you own the property! When you decide to sell you may turn your owner’s policy of title insurance in for credit toward the owner’s policy of title insurance for the new purchaser.
Why Title Insurance?
To protect what is usually the largest single investment you’ll ever make, there are several types of insurance you’ll need for protecting your home and personal property.
- Homeowner’s or hazard insurance protects against loss from fire, theft, or wind damage.
- Flood insurance protects against rising water.
- Title insurance protects against hidden title hazards that may threaten your financial investment.
Products & Services
- Construction Loans
- Land Acquisition
- Construction Loans
- Home Equity Loans
Tax Deferred Exchanges- (also known as IRC 1031 Exchange or a Starker Exchange)
- Sale of the Relinquished Property
- Purchase of the Replacement Property
- Referral to a Qualified Intermediary
Our Title Products are Proudly Underwritten by: