What is Title Insurance? A form of indemnity insurance which insures against financial loss from defects in title to real property and from invalid or unenforceable mortgage loans. Title insurance will defend against a lawsuit attacking the title, or reimburse the insured for the actual monetary loss incurred up to the dollar amount of insurance provided by the policy.
What is a Lender's Policy? Sometimes called a loan policy, it is issued only to mortgage lenders. Generally speaking, it follows the assignment of the mortgage loan, meaning that the policy benefits the purchaser of the loan if the loan is sold.
What is an Owner's Policy? The owner's policy assures a purchaser that the title to the property is vested in that purchaser and that it is free from all defects, liens and encumbrances except those listed as exceptions in the policy or excluded from the scope of the policy's coverage. It also covers losses and damages suffered if the title is unmarketable. The policy also provides coverage for loss if there is no right of access to the land. Although these are the basic coverages, expanded forms of residential owner's policies exist that cover additional items of loss.
We are experienced and knowledgeable in issuing both lender's and owner's title insurance policies.
Our title insurance policies are issued through Attorneys' Title Guaranty Fund, Inc.