TITLE INSURANCE

Through our global network of offices, we serve home buyers and sellers; investors; residential and commercial real estate agents and brokers; national, regional and local banks and credit unions; builders and developers; attorneys and others involved in any type of residential or commercial real estate transaction both in the United States and in over 80 countries around the world. Our network of policy-issuing offices issue title insurance policies to protect the interests of both property owners and mortgage lenders on residential and commercial resale, new construction and refinance transactions.

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Title insurance for property owners, called an Owner’s Policy, is usually issued in the amount of the real estate purchase. It is purchased for a one-time fee at closing and is valid for as long as the owner or his heirs have an interest in the property. Only an Owner’s Policy fully protects the buyer should a covered title problem arise with the title that was not found during the title search. Possible hidden title problems can include:

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• Errors or omissions in deeds

• Mistakes in examining records

• Forgery

• Undisclosed heirs

 

Title insurance for mortgage lenders title insurance is called a Loan Policy. Most lenders require a Loan Policy when they issue a mortgage loan. The Loan Policy is usually based on the dollar amount of the loan and it protects the lender’s interests in the property should a problem with the title arise. It does not protect the buyer. The policy amount decreases each year and eventually disappears as the loan is paid off.