Title insurance is different from other types of insurance.
* It doesn't cover any future casualties, such as homeowners, auto, or health insurance. If you are looking for various title insurance companies, you can look at this website.
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* Title insurance protects policyholders against past events, such as liens that have not been paid off, mortgages that have never been satisfied, and deeds signed by only one party with a vested interest.
Title insurance, technically speaking, is a policy of insurance that guarantees that the insured property is free from any claims after the policy's effective date. A real estate title refers to the right to possess, use and own that property. It is the foundation of property ownership.
* Title insurance protects the insured against any claims that might be made against their own right. It is standard for the Seller to give to the Buyer a policy titled insurance when ownership of a property is being transferred.
* How do you find out if there are no judgments against the Seller attached to the property? These issues can be investigated using a Title Search and Examination. It is a search of public records that uncovers information about the property.
* This is the first step in the process of issuing title policies. After the examination and search are completed, we issue a commitment for title insurance.
*The commitment describes all that was found in the title search and is a binder promising to issue a policy of title insurance when the requirements are met.
* These requirements include recording a deed from current owners, recording payment, and recording satisfaction of current mortgages, etc. After the required documentation has been recorded, the actual Policy of Title Insurance will be issued.