A fire destroys only the house and improvements. The ground is left. A defective title may take away not the only the house but also the land on which it stands. Title insurance protects you (as specified in the policy) against such loss.
A deed or a mortgage may have been signed by a person under age.
A deed or a mortgage may have been made by a legally insane person or one otherwise incompetent.
A deed or a mortgage may have been made under a power of attorney after its termination and would, therefore, be void.
A deed or a mortgage may have been made by a person other than the owner, but with the same name as the owner.
The testator of a will might have had a child born after the execution of the will, a fact that would entitle the child to claim his or her share of the property.
A deed or mortgage may have been procured by fraud or duress.
Title transferred by an heir may be subject to a federal estate tax lien.
An heir or other person presumed dead may appear and recover the property or an interest therein.
A judgment or levy upon which the title is dependent may be void or voidable on account of some defect in the proceeding.
Title insurance covers attorneys’ fees and court costs.
Title insurance helps speed negotiations when you’re ready to sell or obtain a loan.
By insuring the title, you can eliminate delays and technicalities when passing your title on to someone else.
Title insurance reimburses you for the amount of your covered losses.
A deed or mortgage may be voidable because it was signed while the grantor was in bankruptcy.
Each title insurance policy we write is paid up, in full, by the first premium for as long as you or your heirs own the property.
There may be a defect in the recording of a document upon which your title is dependent.
Claims constantly arise due to marital status and validity of divorces. Only title insurance protects against claims made by non-existent or divorced “wives” or “husbands.”
Many lawyers, in giving an opinion on a title, protect their clients as well as themselves, by procuring title insurance.
Over the last 24 years, claims have risen dramatically.
Like purchasing any insurance (auto, fire or theft), you hope you will never need to use it, but if something unforeseen happens, THANKFULLY YOU HAVE IT!
You are an AWESOME closer! You know your stuff and explained things so well. Thank you! (You probably thought I wasn’t paying attention-but I was! 34 years of doing this) GREAT JOB!!!!
Agent, Realty Group, Inc.
Really enjoyed working with TitleSmart on a purchase transaction for a customer of mine. Julie Isadore did a great job throughout! Highly recommended, professional team.
Consultant, Wells Fargo Home Mortgage
Maria Bougie at TitleSmart was terrific to work with. She kept in contact with me throughout the preparation for closing process which resulted in a smooth transition and closing. Thank you Maria & TitleSmart!
Lynn helped us out with the closing of our old house yesterday. She was great to work with! We had a last minute change due to closing of our buyer’s house getting pushed back and she came to Woodbury just so we wouldn’t have to drive out to Edina. I really appreciate the help from you and your team on both of our closings!
Brian R. Cludy
I wanted to thank you for the professional job you did for us today. You and your receptionist were both extremely professional and made myself and my customer feel very comfortable at your office.