Why You Need a reliable Title Company
The title company is one of the major players in any real estate transaction. This is the group that oversees the validity of the sale. One of the company’s responsibilities is to ensure the seller has the rights to sell the property to a buyer.
The team at Rush Title Services works together to provide fast, friendly, and courteous service and a convenient, stress-free experience for our clients. We seek to establish a mutually beneficial long-term relationship with our clients, and we continually strive to establish superior methods of communication to aid in that goal.
Frequently Asked Questions
An insurance policy protecting against loss should the condition of title to land be other than as insured.
When you buy a home, or any property for that matter, you expect to enjoy certain benefits from ownership. For example, you expect to be able to occupy and use the property as you wish, to be free from debts or obligations not created or agreed to by you, and to be able to freely sell or pledge your property as security for a loan. Title insurance is designed to cover these rights for you.
The cost varies and is largely dependent on the value of your property. The important thing to remember is that you only pay once, then the coverage continues in effect for so long as you have an interest in the covered property. If you should die, the coverage automatically continues for the benefit of your heirs. If you sell your property, giving warranties of title to your buyer, your coverage continues. Likewise, if a buyer gives you a mortgage to finance a purchase of covered property from you, your coverage continues to protect your security interest in the property.
The lender’s policy covers only the amount of its loan, which is usually not the full property value. In the event of an adverse claim, the lender would ordinarily not be concerned unless its loan became non-performing, and the claim threatened the lender’s ability to foreclose and recover its principal and interest. And in the event of a claim, there is no provision for payment of legal expenses for an uninsured party. When a loan policy is being issued, the small additional expense of an owner’s policy is a bargain.
Not at all. At the mere hint of a claim adverse to your title, you should contact your title insurer or the agent who issued your policy. Title insurance includes coverage for legal expenses which may be necessary to investigate, litigate or settle an adverse claim.