frequently Asked Questions
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How long does title insurance coverage last?A.For owners, coverage lasts as long as you or your heirs own or partially own the property. For lenders, coverage lasts until the mortgage is paid in full.
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How much does title insurance cost?A.An owner’s title insurance policy pricing varies depending on the particulars of the property and its location. This one-time fee is paid at closing.
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What things are typically covered by title insurance?A.A typical owner’s title insurance policy covers: Discovery that someone else owns the property you purchased Incorrect, forged, or fraudulent signatures on title documents and other property documents ...
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What kind of problems can occur with the title to a property?A.Property titles are subject to a range of legal judgements, which can be complicated. In order to avoid problems that could impact your closing or ownership, it’s important to conduct an in-depth ...
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What is the difference between homeowners’ insurance and title insurance?A.Homeowners’ insurance protects owners against damage and problems that may happen in the future, after the date the policy begins. Title insurance, on the other hand, protects owners and lenders ...
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Do I need title insurance for a newly constructed property?A.While you will be the first owner of your newly constructed home or building, other people have owned the parcel of land before you or your builder. If any undisclosed or undiscovered liens against ...
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Do I need title insurance if I’m buying property from someone I know?A.Even if you’re buying a property from a trusted friend or family member, that person may not be aware of all of the title issues associated with the house, building, or land. Any time a title problem ...
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Why do I need title insurance?A.Title insurance protects you from issues or problems with your title that may have occurred before you purchased it. If a seller fails to disclose, or wasn’t aware of, a title problem prior to ...
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What is a title search?A.Before purchasing a property, buyers should make sure a reputable title company conducts a thorough title search. This research uncovers any issues with the ownership of the property that could impede ...
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What is title insurance?A.Unlike auto or home insurance, which protect you against things that might happen in the future, title insurance protects you from things that happened in the past. If you’re purchasing a property, ...
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What is a closing disclosure?A.A closing disclosure is an official document certifying the details of your mortgage, including monthly fees, and closing costs.
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What happens at a closing?A.Your realtor, lender, or closing attorney can walk you through the details for your particular sale. Generally, these transactions take a similar format. The buyer, seller, lenders, and any other ...