Why do I need title insurance for a newly built home?

Construction of a new home has the potential exposure to unique title pitfalls that may impact the lender and owner. You may think you are the first property owner when you are constructing or buying a newly built home.  However,

Posted in

Why are there separate title policies for owners and lenders?

There are two types of title Insurance: owner’s title insurance, called an Owner’s Policy and lender’s title insurance, called a Loan Policy. Most lenders require a Loan Policy when they issue you a loan. The Loan Policy is usually based

Posted in

If my lender gets title insurance for its mortgage, why do I need a separate policy for myself?

The lender’s policy covers only the amount of its loan, which is usually not the full property value. In the event of an adverse claim, the lender would ordinarily not be concerned unless its loan became non-performing and the claim

Posted in

What does this cost?

The cost varies, depending mainly on the value of your property. The important thing to remember is that you only pay once., then the coverage continues in effect for so long as you have an interest in the covered property.

Posted in

What if I have a problem? Do I have to lose my property to make a claim?

Not at all. At the mere hint of a claim adverse to your title, you should contact your title insurer or the agent who issued your policy. Title insurance includes coverage for legal expenses which may be necessary to investigate,

Posted in

Why do I need title insurance?

When you buy a home, or any property for that matter, you expect to enjoy certain benefits from ownership. For example, you expect to be able to occupy and use the property as you wish, to be free from debts

Posted in

What is title insurance?

An insurance policy–protecting against loss should the condition of title to land be other than as insured.  

Posted in

Recent Comments

    Archives

    Categories

    • No categories