Title Insurance: Things You Might Not Know

Why do I need Title Insurance?

Owning real estate is one of the most precious values of freedom in this country. Get the assurance that the property you are buying will be yours. Other than your mortgage holder, no one else should have any claims or restrictions against your home. Under our system of law, it's entirely possible for someone to claim an interest in real estate you think is yours. Even if you defend successfully in court, there are legal fees and costs to be paid. If your defense fails, your real estate ownership will be threatened and you could suffer serious financial loss. When you buy a home, you should expect clear title to the real estate. If your land title is clouded by claims, possible hazards and other problems, the security of your ownership will be in jeopardy. For protection against these and other types of land title difficulties, rely on Jones & Raulston. Our experts search and examine public records to locate trouble in advance-so problems can be cleared up whenever possible and transactions can be completed.

Source: https://www.yumpu.com/en/document/view/60154721/title-insurance-policies-

What kinds of policies are there?

What’s covered depends upon your policy. If you purchase only lender’s title insurance and end up losing your home to a previously unknown lien, your mortgage will be paid off. That’s the good news. The bad news is that you won’t get anything to cover the payments you’ve made, including the down payment. You’re out a house. That’s why experts advise buyers to get an owner’s policy as well.

Owner policies come in different flavors. A standard policy will generally cover you up to the purchase price of your home. If you want to protection that will cover inflation, you’ll want an enhanced policy or an inflation rider. That also provides coverage for liens filed after your closing date. Say, for example, you buy a new home and at closing everything is clear. The next day, a subcontractor who worked on construction of your home files a mechanic’s lien. Without an enhanced title insurance policy, you aren’t covered and may end up paying the subcontractor. It’s up to you to look at coverage and decide which owner’s policy you want to purchase.

Source: https://www.zillow.com/home-buying-guide/what-is-title-insurance/

Artesian Title -Concierge Title™ Service makes a real difference

Artesian Title provides closings with a concierge touch. Our mobile, licensed “Concierge Closers™” are yours when and where you need them. They come to you when you call. They work to your timetable. They communicate in ways you prefer — They’re ready to answer all your questions and provide every document at a moment’s notice Add that to our weekly email — Peace of Mind Fridays™ — that provides a progress update on the status of your title case and the real differences with Artesian are truly significant.

Building up a business network to refer potential clients’ costs money. Marketing arrangements that share reciprocal agreements cost money. People cost money. The Internet, however, saves us money — every time a customer clicks our Artesian link to get a title quote. Every time we take an online order for title, we bypass the traditional costs of the transaction — bad news for the middlemen. Great news for our clients who get up to a 20% Rebate on their title insurance right off the top!

Source: Florida Title Insurance

Title Insurance Basics: Everything You Need to Know About Title Policies

Preparing to buy a new home can be overwhelming.

And once you’ve finally found the right one, closing is still a complicated process. Plus, few buyers are aware of basic terms—much fewer specifics.

However, aspects of title insurance (a relatively new product in Canada) can mean the difference between a satisfactory transaction resulting in ownership of a new home—and financial ruin.

So what exactly is it?

Title insurance is a contract used to reimburse loss or damage due to problems concerning the ownership of property, including title defects, liens against the property, undisclosed heirs, and more.

Though the buyer pays for both, lender’s policies are required whereas owner’s policies are optional.

Source: http://wearyco.com/title-insurance-basics-everything-you-need-to-know-about-title-policies/

6 Questions to Ask About Title Insurance

Title insurance protects property buyers and mortgage lenders against defects or problems with a title when there is a transfer of property ownership.

If a title dispute arises during a sale, the title insurance company may be responsible for paying specified legal damages, depending on the policy.

Issuing title insurance is a two-part process. First, the title company or attorney researches records to make sure there are no undisclosed heirs to the property, unpaid taxes, pending legal action, errors, fraud or other problems with the deed.

Source: https://www.bankrate.com/finance/mortgages/6-questions-to-ask-about-title-insurance-1.aspx