Frequently Asked Question

What is title insurance?

Title insurance is protection against loss if a defect is found in your title. When you buy a home, you are given title to the property that generally means you receive full legal ownership. But sometimes there's a hidden mistake in a prior deed, will, mortgage, etc., that may give someone else a valid legal claim against your property. Back to Top

Why is title insurance important?

Title insurance provides a "safety fence" around your property. Having title insurance can save you money, time and trouble . . . even your home. Back to Top

Who is covered by title insurance?

Buyers When acquiring property, it's a good idea to get your own title insurance policy. It will give you peace of mind and maximum protection in case there's a claim against your home. Sellers Buying title insurance can make your property more attractive to prospective purchasers. Lender When you borrow money against your property, you are commonly required to buy title insurance. This covers the outstanding balance on the mortgage for the lender, but does not protect the borrower. Back to Top

What risks are covered?

Coverage typically protects against 4 "hidden risks" Errors Incorrect information in deeds, mortgages, public records, etc., such as a wrong name. Liens Claims against the property or the seller which become the new owner's responsibility after the sale. Examples are unpaid mortgages, taxes, sewer and water assessments, bills owed to contractors or other creditors, etc. Claims to Ownership For instance, a claim to "marital interest" by the spouse of a former owner or by a child of a former owner who was not mentioned in the former owner's will. Invalid Deeds For example, transfer by a person who did not actually own the property, or by a previous owner who was not mentally competent. These problems may not be discovered in a routine title search. Back to Top

What happens at the closing?

You will sign all the documents associated with the loan and/or the sale of the property. For a sale the ownership in the property is transferred once the Deed has been recorded at the county's recorders office and the money has been transferred. And remember that you will need a picture ID. Back to Top

How much does title insurance cost?

The price of title insurance is based on either the sale price or the loan amount. Please call us for a quote. Back to Top