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"Working with Jodi & Lynda was fantastic! They kept us informed along the way and everything including the settlement went smoothly. Highly recommend their office and services!"
"Lynda Hale was extremely helpful. She took the time to go over all of the important documents with me before I signed them. She made sure that everything was in order for a smooth closing process."
"All involved provided fantastic service and were incredibly responsive. We had a wonderful experience."
"Great experience all around when working with Anderson Law & Title! Jody was extremely helpful and went out of her way to basically hold my sellers hand all the way to the closing table. I'm not sure we would've gotten there without her help taking the extra time to answer all his many questions. I highly recommend Anderson Law and Title to other Realtors, or anyone needing some outstanding real estate legal advice or services!"
"When applying for a home equity line of credit, the title search found that there was an unreleased lien against my property from many years ago. I hired a lawyer to resolve the issue and after four years this issue still remained unresolved. I was then referred to Anderson Law & Title through a real estate friend. The team at Anderson Law & Title were very responsive. Within weeks, they were able to resolve my lien issue. It was a fantastic experience to work with such competent professionals. I would definitely recommend Anderson Law & Title to anyone in need of real estate legal services."
Title insurance is an agreement to indemnify against damage or loss from a defect in title as outlined in a policy of title insurance for a specific parcel of real property. Following a title search and examination of public records, and in exchange for a premium paid, title insurance companies will assume the risk that title to a parcel of real property is as stated in the policy of title insurance.
Most lenders require you to purchase a lender’s policy to protect their interest in the property, but title insurance for the buyer is optional. An owner’s policy will provide peace of mind that your title company will stand behind you if a covered title issue or defect arises after you purchased your property.
An Owner’s Policy insures the owner of real property against loss resulting from matters covered under the policy of insurance for as long as they own the property. There are several versions of this policy.Consult with your real estate professional to determine which policy is best for you.
Title insurance is generally calculated based on the value of your property. This one-time premium covers the cost of a title policy for as long as you and your heirs own the property.
If you are paying for title insurance, you can shop around. That means you can choose what title company you work with. You can research the title company you want to use or go with one your real estate agent recommends.
Title insurance offers protection against claims resulting from various defects (as set out in the policy)which may exist in the title to a specific parcel of real property -effective on the issue date of the policy.Some common examples of risks covered by the owner’s policy include defects in title caused by: - Improper execution of documents - Mistakes in recording or indexing legal documents - Forgeries and fraud - Undisclosed or missing heirs - Unpaid taxes and assessments
Title companies provide services to buyers, sellers, real estate developers, builders, mortgage lenders and others who have an interest in the real estate transaction. Title companies provide assurances that the transfer of title takes place efficiently, and that your interests as an insured are protected under the terms and conditions of the policy.
Title insurance is different from many other types of insurances (e.g., casualty, auto, etc.). These other types of insurances assume risks by providing financial protection for losses arising from an unforeseen future event such as a fire, theft or accident. With title insurance, risks are examined and mitigated before the property changes hands.
A Lender’s Policy insures the priority of the lender’s security interest over claims that others may have in the property.
Surprisingly, “who pays” for title insurance is not uniform. In some areas, the buyer pays, while in other areas, the seller pays. In some places, the seller pays for the owner’s title policy and the buyer pays for the lender’s policy. But in every case, the question of who pays closing costs is a matter of agreement between the buyer and seller. Usually this agreement is based on the customary practice in your area.
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