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What is title insurance? - blog post image
06

Jul

What is title insurance?

Title insurance is a form of insurance in favor of an owner, lessee, mortgage or other holder of an estate lien, or other interest in real property. It indemnifies against loss up to the face amount of the policy, suffered by reason of title being vested otherwise than as stated, or because of defects in the title, liens and encumbrances not set forth or otherwise specifically excluded in the policy, whether or not in the public land records, and other matters included within the policy form, such as lack of access to the property, loss due to unmarketability of title, etc. The title policy form sets forth the specific risks insured against. Additional coverage of related risks may also be added by endorsements to the policy or by the inclusion of additional affirmation insurance to modify or supersede the impact of certain exceptions, exclusions or printed policy "conditions." The policy also protects the insured for liability on various warranties of title.

In addition, the policy provides protection in an unlimited amount against costs and expenses incurred in defending the insured estate or interest.

Before it issues a title policy, the title insurance company performs, or has performed for it, an extensive search, examination and interpretation of the legal effect of all relevant public records to determine the existence of possible rights, claims, liens or encumbrance that affect the property.

However, even the most comprehensive title examination, made by the most highly skilled attorney or lay expert, can not protect against all title defects and claims. These are commonly referred to as the "hidden risks." The most common examples of these hidden risks are fraud, forgery, alteration of documents, impersonation, secret marital status, incapacity of parties (whether they be individuals, corporations, trusts or any other type), and inadequate or lack of powers of REALTORS® or fiduciaries. Some other hidden risks include various laws and regulations that create or permit interests, claims and liens without requiring that they first be filed or recorded in some form so that the potential buyers and lenders can find them before parting with their money.

Since the cost for home owner's title insurance is usually sharply reduced when taken simultaneously with the issuance of a purchase money mortgage, the risk is one that a well informed buyer should not take. In fact, several states have adopted statutory requirements which require a notice to home buyers as to the availability of title insurance similar to that being obtained by their purchase money mortgages.




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Bryan, Huntsville

As first time home owners who are new to the area, we had a lot of questions and needed a lot of guidance. Anzie went out of her way to help us find exactly what we wanted, and she also made herself available to us at all hours of the day. Any questions I had she answered, and went way out of her way to make us comfortable and informed. I couldn't have asked for a better experience buying our first home! I would reccomend Anzie and Dolf to anyone!

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Absolutely amazing people to work with. Dolf and Anzie go above and beyond. If you are looking to deal with a couple who run their business with integrity, honesty and the love of helping people, choose them. You will not regret it! If there were more than 5 stars, they would be receiving them.

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They're both very professional and super nice people. They helped us buy our first house 2 years ago and we'd use them again in the future as well. I definitely recommend them to anyone! It was a pleasure working with them.

Krystal, Huntsville

5 Stars!!! Dolf and Anzie are honest, genuine, kind, hard working and friendly. You won’t find better real estate agents anywhere! Highly recommended!

Simone, Baysville

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