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Lender’s
Coverage…. In most
instances, a lender will require you to purchase a lender’s title insurance policy to
protect the loan. The premium is a one-time fee payable at settlement. The goal of the
title
companies is to conduct an evaluation of the public records and determine the
marketability of the title. A lender’s policy will protect them against any defects
in the title that were not discovered at the time of the sale and protects them from
issues that may arise after the transaction. It covers both recorded and unrecorded
matters such as:
*Encroachments.
*Unrecorded easements.
*Access to the property.
*Loss of priority.
*Unrecorded liens.
The loan policy offers NO protection for the homeowner.
Owner’s Coverage…
Just as lenders want security with their
title policy, you should protect the equity in your home with a policy. A low one-time
premium can give you the protection against "hidden risks" or undiscovered
defects such as:
*Mistakes and omissions resulting in improper abstracting.
*Errors in tax records.
*Probate matters.
*Improperly recorded legal documents.
*False impersonation of the true land owner.
*Gaps in the chain of title.
*Forged deeds, mortgages, wills, release of mortgages.
*Community property issues.
*Utility easements.
Once purchased, your title insurance remains in effect for as long as you own your
home.
Title Insurance adds security and peace of mind. |
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Need Answers to
your settlement questions? Click here for more information. |
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To access our
on-line tools Click
here! |
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To speak with a
settlement agent now, please call
703-490-1873
888-311-1873 |
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Military
Relocation? We specialize in assisting military personnel transitioning into the area. |
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Contact us at:
4008
Genesee Place Suite 109
Woodbridge, Va 22192
Phone - 703-490-1873
888-311-1873
Fax -
703-490-3872 |
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