This process can be daunting. To help explain the process, here is a look at Frequently Asked Questions.
What is a Title Search?
A title search is an early step in the home buying process to uncover issues that could limit your rights to the property. If a title issue is discovered, most often our team will take care of it without you even knowing. After the title search is complete, we can provide a title insurance policy.
What is Title Insurance?
If you’re buying a home, title insurance is a policy that protects your investment and property rights.Unlike car, home and health insurance that protects any future issues, Title Insurance protects the past by doing an in-depth search of the chain of title, assuring the new buyers will not also be stuck with a previous judgement or lien on the property from previous owners.
What type of Title issues may arise?
Issues such as existing Mortgages, liens or judgments against current or prior owners, adverse claims of interest in the Land, boundary line disputes, etc. could come up during the search.
Why should I purchase owner’s Title Insurance?
Owner’s title insurance protects your investment in your property from certain future legal claims regarding ownership of your property. For a one-time fee, you and your heirs receive coverage for as long as you own your home. The owner’s policy also covers potential legal fees and court costs for settling claims covered by your policy.
What are the two types of Title Insurance?
An Owner’s Policy is the best way to protect your property rights. Either the buyer or seller may pay for this policy.
A Lender’s Policy is usually required by the lender and only protects the lender’s financial interests. The buyer typically pays for this policy, but that varies depending on the geography.