The purchase of real estate is often the single largest investment a person or a family makes.
Given the complexity of the investment, there are a host of requirements which must be addressed before the successful closing of the transaction. At Simplicity Title, our commitment is to simplifying the transaction for all parties involved, including the purchaser, real estate professionals, lenders and attorneys, so that all requirements are met and the closing takes place on time.
Q: What is the Title referred to in title insurance?
A: Simply stated, “title” is the right of ownership in property. When a person holds title to property, it simply means they have proper and legal ownership. Title insurance, which is discussed more fully below, protects your investment by shielding you from any claims against your interest in the property.
A: Simply stated, “title” is the right of ownership in property. When a person holds title to property, it simply means they have proper and legal ownership. Title insurance, which is discussed more fully below, protects your investment by shielding you from any claims against your interest in the property.
Q: What is Title Insurance?
A: Title Insurance is an insurance policy guaranteeing that the title to property is clear, and tha t the owner has the right to sell the property. Accordingly, once a title insurance policy is issued, your interest in the property purchased is protected, subject to the exclusions and conditions contained in the policy. Should a problem later arise with the title, the title insurance underwriter will protect you in any litigation that may ensue, including paying costs, attorneys’ fees, and expenses. If the claim is ultimately proven to be valid, the insurance underwriter will also pay the costs of your claim, up to the amount of the policy, or will perfect the title as insured, at its own expense.
A: Title Insurance is an insurance policy guaranteeing that the title to property is clear, and tha t the owner has the right to sell the property. Accordingly, once a title insurance policy is issued, your interest in the property purchased is protected, subject to the exclusions and conditions contained in the policy. Should a problem later arise with the title, the title insurance underwriter will protect you in any litigation that may ensue, including paying costs, attorneys’ fees, and expenses. If the claim is ultimately proven to be valid, the insurance underwriter will also pay the costs of your claim, up to the amount of the policy, or will perfect the title as insured, at its own expense.
Q: What types of claims are typically made against the title of a property?
A: There are a number of problems that could lead to the title of the property you are purchasing to become encumbered or “clouded.” The following examples are some of the types of “defects” that could negatively affect your property: forged deeds, mortgages, satisfaction of mortgages and other instruments; false impersonation of the true owner of the property; deeds by persons of an unsound mind; deeds by minors; errors in tax records; and many, many more.
A: There are a number of problems that could lead to the title of the property you are purchasing to become encumbered or “clouded.” The following examples are some of the types of “defects” that could negatively affect your property: forged deeds, mortgages, satisfaction of mortgages and other instruments; false impersonation of the true owner of the property; deeds by persons of an unsound mind; deeds by minors; errors in tax records; and many, many more.
