Frequently Asked Questions

Q:  What is Title Insurance and why is it important?

A:   Title insurance protects a property, buyer or lender from financial losses caused by defects (or clouds) in the property's title.

Q:  Is Title Insurance a one time fee or a recurring fee?

A:  It's a one-time premium paid when the property is purchased or refinanced.

Q:  What defects does Title Insurance protect against?

  • Unpaid taxes: Property taxes that haven't been paid
  • Fraud: Forgery of previous paperwork or fraudulent impersonation
  • Liens: Judgments, tax liens, environmental liens, or mortgages
  • Missing owners: Unknown heirs or spouses who claim ownership
  • Document errors: Mistakes in the property's records

Q:  What are the different types of Title Insurance?

  • Owner's policy: Protects the buyer's interest in the property
  • Lender's policy: Protects the lender who issued the loan to the buyer
  • Leaseholder's policy: Protects the interest of long-term renters

Q:  How much does title insurance cost?

  • The premium varies by state and the value of the property 
  • A policy can cost between $500 and $3,500

Q:  How does title insurance work?

  • Title companies review the property's history and work to fix any problems before closing 
  • The insurance company may defend the title, pay for the covered matter, or pay the policyholder for the loss

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