FAQ

Why do I need Title Insurance?
Think about it, your home is probably the single most important and costly asset you will probably ever own.
Any issues with the title to your property can limit your use and enjoyment of your home or real estate in addition to bringing financial loss as well. Protection against hazards of title is available through a unique coverage known as title insurance. Title insurance is not like other types of insurance that focus on possible future events and charge an annual premium, title insurance is a one time payment and is a safeguard against loss arising from flaws and problems that already exist in the title to your property.

Do Lenders require a policy?
Yes, your mortgage lender has a great financial interest in the property you’re buying.Lenders rely on the Title Insurance Policy to ensure that they won’t be impacted by unforeseen title problems that could affect them. The Lender’s Policy covers them for the amount of the loan, but decreases and eventually disappears as the loan is paid off.
Keep in mind, the lender’s policy does not protect your interest as a homeowner. You need to purchase a separate Owner’s Title Insurance Policy.

 

What is the process?

Title insuring begins with a search of the public land records for matters affecting the title to real estate concerned.

Here are some examples of typical problems:

• Deeds, wills and trust that contain improper vesting and incorrect names
• Outstanding mortgages, judgments, tax liens
• Easements
• Incorrect notary acknowledgements

Hidden Title Defects

Because even the best title search, performed by the most experienced and capable experts, cannot ensure that no title defects exist as some issues are not  revealed in public records. Your Owner’s Title Insurance Policy protects your interest in the property against unforeseen hazards such as:

• Mistakes in recording of legal documents
• Forged deeds, releases, or wills
• Undisclosed or missing heirs, including spouses
• Deeds by persons of unsound mind
• Deeds by minors
• Deed executed under invalid or expired power of attorney
• Liens for unpaid taxes
• Fraud