Title is a combination of all the elements that constitue a legal right to own, possess, use, control, enjoy, and dispose of Real Estate or a right or interest therein.

Title insurance protects Real Estate Owners and Lenders against any proeprty loss or damage they might experience due to liens, encumbrances, or defects in the Title to the property. Each Title Insurance Policy is subject to specific terms, conditions and exclusions.

Your Lender likely will require you to purchase a Lender's Policy. This policy only insures that the financial institution has a calid, enforceable lien on the property. It does not protect you. An Owner's Policy is designed to protect you from title defects that existed prior to you purchasing your home. Owner's Title Insurance protects you against what you don't know. It helps take the risk out of buying property whose legal history is long and may not be completely known to you. The so-called "hidden risks" covered by such a policy are not common, but they do exist. If your proeprty's ownership history carries such risks, you could lose the property and the money you paid for it. It also covers the full cost of any legal defense of your title.

The Lender's Policy protects the Lender's interest in the property for the amount of the mortgage loan. The Mortgage Company has a Loan Policy to protect its interest in the money it lent you. Warning: The loan policy does not protect YOU!

The Lender's Policy, only insures that the financial institution has a valid, enforeceable lien on the property. Most lenders require this type of insurance, and tpically require the borrower to pay for it. If a valid title claim was paid out to yoru Mortgage Company, the Note would then be assigned tot he Underwriter. The Underwriter would then collect payments from you, as the borrower (buyer). An Owner's Policy on the other hand is desgined to protect you from title defects that existed prior to the issue date of your policy.

Protecting your Home Investment! A home is usually the largest single investment any of us will ever make. When you pirhcase a home, you will purchase serveral types of insurance coverage to protect your home and personal property. Homeowners Insurance protects against loss from fire, theft, or wind damage. Flood Insurance protects aainst rising water. And a unqiue coverage known as Title Insurance protects against hidden title hazards that may threaten your financial investment in your home. When purchasing a home, instead of purchasing the actual building or land, you are really purchasing the Title to the property -- the right to occupy and use the space. The Title may be limited by rights and claims asserted by other, which may limit your use and enjoyment of the property and even bring financial loss. Title Insurance protects against these types of title hazards. Owner's Title Insurance is a means of protecting yourself from financial loss in the event that problems develop regarding the rights to ownership of your property. There may be hidden title defects that even the most careful title search will not reveal. In addition to protection from financial loss, Title Insurance pays the cost of defending against any covered claim.

Any number of problems that remain undisclosed after even the most meticulous search of public records can make a title defective. These hidden "defects" are dangerous, because you may not learn of them for many years. These hidden defects can force you to spend substantial sums of money on a legal defense, which can still rsult in the loss of your property.

Owner's Title Insurance protects against claims from defects. Defects are things such as another person claiming an ownership interest, improperly recorded documents, fraud, forgery, liens, encroachments, easements and other items that are specified in the insurance policy. An Owner's Policy protects the home buyer's interest in the property against such hidden hazards as: Mistakes in recording of legal documents Forged deeds, releases, or wills Undiscolsed or missing heirs, including spouses Deeds by persons of unsound mind Deeds by minors Deeds executed under an invalid or expired power of attorney Leins for unpaid taxes Fraud For a one-time premium paid during the closing process, your title insurer assumes responsibility for all legal expenses to defend the title to your property if it is ever challenged. For the home buyer, it is a small cost for huge peace of mind.

Lender's Policy lasts until the mortgage is paid in full. An Owner's Policy remains in force as long as your or your heirs have an interest in the property. If challenges to title arise after the propety has passed to your heirs, the title insurance company would defend the title for them as it would for you.

Yes, certain exceptions from coverage are a standard practice, but you should be aware of which items are exempted and therefore not covered. Owner's Policies usually contain a list of some of the following standard exceptions: Boundary line disputes Easements or claims of easements not shown in the public records Taxes or special assessments left off the public record Claims of people who turn out to be living in the house (such as a prior owner's tenants) if their being there isn't a matter of public record Unrecorded mechanic's liens Mineral and/or water rights You have the option of paying an additional fee to obtain "Extended Coverage" for any items you want included in your policy. Your Title Agent can tell you which endorsements are available. Other exceptions which are generally excluded form coverage include zoning, enviornmental protection laws, matters arising after the effective date of the policy, and matters created, suffered, or assumed by the insured. Some other exceptions could be subdivision and building codes, and matters known to the insured, but not shown on the public records and not disclosed to the insurer. Go over your Title Policy carefully to see what is included and which items are to be excluded from coverage. If you find items of concern, discuss these with your Title Agent or Closer. Any changes to the Policy of Title Insurance should be made as soon as possible and before Closing or the date of issuance.

Insurance such as car, life, health, etc., protects against future events and is paid for with monthly or annual premiums. A Title Insurance Policy insures against events taht occurred int he past of the real estate property and the people who owned it, for a one-time premium.

Escrow refers to the process in which the funds of a transaction (such as the sale of a house) are held by a third party, often the title company or an attorney in the case of real estate, pending the fulfillment of the transaction.

The Title Company will handle the recording of all necessary documents executed at the closing.

Once the title company receives the original recorded Deed back from the County Recorder's Office, it will be mailed to the Homeowner.