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Frequently Asked Questions
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Title Insurance differs from other categories of insurance. Auto, homeowners, and fire insurance require you to pay annual premiums because unlike title insurance, they expect you to make claims periodically throughout the life of the policy. Title Insurance, however, is risk elimination insurance, and require that you pay a one time premium at the time you purchase the property.
Title insurance is designed to protect you from being subjected to any unforeseen surprises. The first step to guaranteeing your protection is a title search. By investigating all county records on your property, a title search can verifiy the seller’s right to transfer ownership, locate any claims, assessments, errors, or miscellaneous defects on the property and virtually eliminate the risk factor for the buyer.
Title insurance is your safeguard. It can save you trouble, time and money. It acts as a shield to guard you against potential claims brought against your property. If your ownership becomes threatened by any claim covered in your policy we, through our underwriter, will negotiate to settle the claim and if necessary defend your title in court. Additionally, we will be responsible for most legal costs incurred while defending your title. If your property title is threatened, you can rest easy knowing you are safe.
Judgments, liens, and title defects are eliminated at the closing. This process will ensure a clear title to your property. Once completed, the appropriate documents will be recorded with the county as public record of your ownership of title. Be sure to understand all the charges assessed in your closing costs. Obtain an itemized list and review it thoroughly before you close.
- Title Insurance Premiums
- Settlement Fees
- Government Fees
- Property or other Taxes
- Loan Charges
- Appraisal Fees
- Survey Fees
- Errors: Incorrect information on deeds, public records, etc.
- Liens: Unpaid mortgages, taxes, sewer and water assessments.
- Ownership: Outstanding spousal interests, or interests of missing heirs in an estate.
- Invalid Deeds: Transfer by former sellers who did not actually own the property, or who were not qualified to convey the property.
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