What is Title Insurance?

Unlike most insurance companies (i.e., auto, home, etc.) which protects potential future occurrences, Title Insurance protects a property’s past events. A property may have several ownership changes that can cause unexpected problems such as past owners, liens, judgements, unpaid taxes, and errors in legal descriptions. Title Insurance protects the insured party from such claims.

What does a title company do?

A Title Company acts as a third party in a real estate transaction, that works on behalf of all parties. We are hired to research and insure the title of a property for a residential sale or refinance. Our search collects recorded documents reflecting the ownership history as well as any liens, judgments, tax delinquencies affecting the property. Upon completion of any Title requirements and a successful closing conducted by the Title Company, a Title Insurance Policy will be issued to the new homeowner.

TITLE SEARCH

What is a title search?

A title search is a detailed examination of the historical records concerning a property. These records include deeds, court records, property and name indexes and many other documents. The purpose of the search is to verify the seller’s right to transfer ownership and discover any claims, defects and other rights or burdens on the property.

What kinds of problems can a title search reveal?

A title search can show several title defects and liens, as well as other encumbrances and restrictions. This can include unpaid taxes, unsatisfied mortgages, judgments against the seller, and restrictions limiting the use of the land as well as many others.

How much does a Title Insurance Policy cost?

Check out our pricing here. The cost of the policy depends on if it’s a residential, new build, or commercial title search and examination. The fee will be a separate line item on the Settlement Statement, which outlines all the related costs. A purchase and sale agreement will dictate who pays for title related costs.