and Ranch, Co.
What is Title Insurance?
Title insurance is
a contract which indemnifies against loss arising through defect
in the title to real property. If the title is insurable, the title
company will guarantee against loss due to any defects in title
not specifically set forth in the policy, and pay all expenses in
defense of any lawsuit which attacks the title as insured within
the terms of the policy.
Two Kinds of Title Policies
Owner's Policy -
To protect against the many possibilities of loss due to title defects,
a buyer of real property should purchase an owner’s policy.
Lender's Policy -
Nearly all residential mortgages originated
today are sold to investors, and the mortgage will likely require
a lender’s policy to protect only the lender.
Hidden Risks Covered by Title Insurance
There may be defects
in title which an examination may not disclose. A title policy protects
against all of these hidden risks, and more...
*Marital property rights not disclosed
*Conveyances altered before recording
*Deeds by minors
*Deeds by persons supposedly single
but secretly married
*Deeds by persons of unsound mind
*Deeds delivered after death of grantor,
or without consent of the grantor
*Defective foreclosures of mortgages
*Errors made by administrators and
*Errors in copying and indexing
*False representations in appointment
of guardians and administrators
*Falsification of records
*Forged deeds, releases, or wills
*Fraud, duress, or coercion in securing
*Illegal acts of trustees
*Instruments executed under expired
or fabricated power of attorney
*Impersonations by fraudulent persons
*Liens for unpaid estate, inheritance,
income, and gift taxes
*Undisclosed or missing heirs
Some important points to
know about title insurance
A premium is paid only once, customarily at time of closing.
*It is your right to select the provider
of your title services.
that your home is one of your most valued assets. We are, therefore,
committed to provide you with the security of a protected investment.