Title Insurance

What you need you know

Comprehensive

Affordable

Generational Coverage

What is ‘Title’?

In real estate, ‘Title’ refers to the rights someone has over their property including ownership, occupation or possession, and the right of possession. ‘Title’ means legally that you have the right to use your property, access or modify the land and transfer whatever interest of that property you own.

What is ‘Title Insurance’?

Title insurance covers you against any financial loss or damage you might experience because of events that occurred in the history of the real estate property during previous ownership. This also includes lawsuits 

Where we start

Title Review Process

1

Search

To insure a property’s title, an extensive title search of public property land records must be performed to produce a history of the property’s “chain of title” – a list of transfers and sales from prior to current owners.

2

Examine

A title search will produce various documents like deeds, mortgages, tax bills, judgments or liens. An examination of these documents is required to determine if the property can be sold or transferred without any other party having a claim to title. 

3

Clear

Any title issues that are discovered during the title search and examination are resolved and cleared so that when you purchase your home, you own all the rights to your property’s title. 

Common Title Issues

  • Open Mortgages
  • Federal Tax Liens
  • Unpaid HOA Dues
  • Judgments  
  • Special Assessments 
  • Mechanic’s Liens
  • Easement Issues  
  • Recorded Wills
  • Boundaries Disputes
  • Forged Documents  
  • Incorrect Recordings  
  • Improperly Signed Deeds

WHY DO I NEED TITLE INSURANCE?

Protection Against ‘Title Defects’

Title insurance is different from other types of insurance. It does not insure against fire, flood, theft, or any other type of property damage or loss. Title insurance protects you from any property and/or financial loss you might experience from problems that arose before you bought the property. Anything that can cause your title, your ownership to a property, to be considered invalid or defective is called a ‘title defect’. When title defects go undetected, title insurance companies defend against lawsuits attacking title, or in the case of a covered loss, reimburse the insured up to the policy limit.

Lifetime Coverage

For a one-time premium payment, a Homeowner’s Title Policy gives you coverage for as long as you own your home.

35%

Of real estate transactions face title issues that need to be resolved.

0.5%

Average cost of a Homeowner’s title policy as a percentage of your property’s purchase price. 

1

Unlike other insurance, a one-time premium payment gives you lifetime coverage.

Generational Coverage

Family matters. Homewner’s Title Insurance not only covers you for as long as you own your home, but it also covers your heirs. Owner’s title insurance lasts as long as you, the policyholder – or your heirs – have ownership and interest in the insured property. This may even be after you have sold the property.

TITLE POLICY

FREQUENTLY ASKED QUESTIONS

An owner’s policy lasts as long as you or your heirs own the land. It also may provide warrantor’s coverage after you no longer own the property, depending on your policy provisions. Policy language has changed over time, so read the continuation of coverage provisions in your policy carefully to determine coverage terms.

You pay for title insurance only once, when you buy the policy, unless you decide later to add more coverage. Keep your policy, even if you transfer your title or sell the property. Coverage lasts as long as you or your heirs own the land, and it may last forever for any title warranties made when you sell the property.

Unlike other insurance coverage, such as car or home-owners insurance, a Title Insurance Policy is an affordable one-time expense that protects your property rights. It costs about 0.5% of the home’s purchase price.

Good news! No. Title insurance is a one-time cost when you buy your home. The premium amount is paid at closing and the insurance coverage lasts for as long as you own your home.

Yes, but there are additional costs to consider. The biggest one being fees for the title company to perform a new title search and examination. Since you pay for title search and examination fees prior to buying a property, you can avoid paying for title search and examination fees twice by purchasing an insurance policy when you buy your home.

Depending on the type of policy you have, it may not provide coverage when you transfer your title into your business or to someone else that is not considered an insured. To determine what type of coverage you have, read your policy, check with your title agent, or speak with an attorney.