title insurance
How to File a Title Insurance Claim
Q: I purchased land in 2003 and obtained a title insurance policy from one of the most prominent title insurance companies in the country. Additional title searches and policies were issued when I obtained a construction loan and a loan …
Claim With Title Insurance Arises With Prior Lien
Claim with title insurance company comes up when an unknown prior lien is found. Watch our video on what title insurance is and what it covers below. Q: I am the third owner of a property. A fraud investigator from …
Quit Claim Deed Can Transfer Inherited Condominium Between Family Members
In order to avoid problems after a death in the family, a quit claim deed can transfer inherited condominium between family members. A real estate attorney can help navigate the procurement of a a quit claim deed can transfer inherited condominium between family members. Probate court will not be necessary if you have a quit claim deed that can transfer inherited condominium between family members.
Find Real Estate Attorney Before Buying a House
Find a real estate attorney before buying a house. Before buying a house use a real estate attorney to inspect documents and check for real estate legal issues. A real estate attorney can inspect documents and alert homebuyers to title problems and other problems before buying a house. Title issues and property disputes are better to resolve before buying a house. A real estate attorney can also help with legal problems after you buy a house. Whether a first time home buyer or a real estate investor, always find a real estate attorney before buying a house. Find a real estate attorney to go through your documents, negotiate the transaction and watch out for your rights when buying a home.
Title Insurance Policy May Not Save You If You Bought The Wrong House
We always say that you should make sure that you obtain a title insurance policy when you purchase a home. That protection is usually quite valuable. However, if you do not use a real estate attorney and think you are buying one thing when you actually are buying another, you may be out of luck. When you are purchasing the most expensive thing in your life, you should probably hire a real estate attorney. And if you are not going to hire a real estate attorney, you should make sure you have a pretty good understanding of what you are buying before signing on the dotted line.
Unpaid Property Taxes Found One Year After Land Contract Signed
Land contract — also known as installment contracts for deed — are complicated documents. If you are not careful, you could end up in a mess. Some issues that can lead to problems in a land contract are title issues, including unpaid real estate and property taxes. But unpaid taxes could be the lesser of some of the title problems you can encounter using a land contract. This reader found unpaid property taxes from years earlier about a year after entering into the land contract.
Title Insurance May Solve Encroachment Issue
If you are buying a home and find out you may have a title problem, you should talk to the title insurance company to determine if the title problem can be insured over by the title insurance company. Many real estate properties have minor title insurance problems that are small enough that the title insurance company may be willing to give you peace of mind with coverage under the title insurance policy.
Contractor’s Liens and Foreclosures
Worried about contractor’s liens? When you buy a foreclosure, check to see if there are any contractor’s liens against the property that have survived the foreclosure. Often, the lender will wipe out all other subordinate liens, including contractor’s liens, in the foreclosure process. But in some cases, those liens may still exist and be valid. If you suspect there might be other liens that will be filed against the property even after you close, be sure to purchase a title insurance policy with coverage over contractor’s liens. You will want to have this insurance in place to have a title company cover the costs of litigation and the costs to remove the contractor’s liens with the purchase of the title insurance even if you bought the property after a foreclosure.
Why Buy Title Insurance On a House When You Pay Cash For the Home
If you are making the largest investment of your life, wouldn’t you want to make sure you are protected by obtaining and buying title insurance? When you buy title insurance on a house, a title company gives you certain guarantees that you are the rightful owner of the home and certain other title protections. Title insurance does not protect you against future title problems that might develop nor does it protect you from fire or other casualties. But if you are paying cash to a seller are you certain the seller will give you good title to the home?
Seller and Buyer Closing Costs State By State
Seller and buyer closing costs are usually a mystery, and we frequently receive emails asking us to give sellers more information on who generally gets to pay for survey and title insurance expenses. So, we prepared a list of two of the most popular closing costs paid by sellers and buyers on a state by state basis: title insurance for the owner’s title insurance policy and survey costs. There are so many closing costs to deal with, but these two costs are usually not thought about by a home buyer or a home seller.
