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!
This is a note to let you know what extraordinary service my buyers and I received last week from Amy Bakke. There is no doubt in my mind that this would not have closed without Amy’s professionalism and absolute dedication to her work. This was a very complicated file with two attorneys on the sellers side, and a listing side closer who was uncertain on how to handle the situation. Amy took charge of handling the sellers’ side attorneys, managed a very confused seller, and made my buyer feel like it was all going to work out. The property was supposed to close on May 15, then May 17th, and finally closed very late in the afternoon on May 18th…..with me having to remote in, as I had to secure the property. Amy oversaw my drafting of several amendments to manage the issues/delays, and never made us feel like we were putting her out. She dedicated her week to making this happen through 3 closing attempts. That is amazing.
In another closing earlier this year, I had an elderly seller in a nursing home, and a trustee deed where one of the parties had died. Amy had to meet with the seller’s attorney and one of her children to finalize how all documents needed to by executed. Further, Amy went to Burnsville to get signatures, so my seller did not have to be transported to closing. Again….above and beyond her job description and always with a smile.
I feel very privileged to have Amy as a partner in my business. Amy always, always, goes the extra mile to make my clients feel confident that this major transaction in their life has been handled with the greatest care and professionalism. Amy is extraordinarily competent, and it is clear at closings that other closing agents feel confident in working with her.
Hello Inge and Shari.
I am overwhelmed by over 70 files in several states! There is so much going on it’s very exciting, and frustrating, and overwhelming! You might know what I mean…
You two are ON IT. More than anyone else that I work with, and I wanted to say thank you! You make my job and my life so much better knowing that you are going above and beyond to help our agents and our clients.
Thank you so much.
Have a great day!
TitleSmart in Edina did a FABULOUS job from beginning to end! My husband and I closed on our first home last week, and we were very impressed with the overall Title process. TitleSmart was always extremely professional, responsive and helpful. We received quick answers to any of our questions, which is very important when dealing with so many people during the loan application phase. We received documents and updates very promptly, which was always reassuring that we had chosen the right team to work with. This was the one stress-less item on our long checklist for purchasing our home. Instructions were clear throughout each step, and we felt comfortable that they were handling the operations. A big shout out to Erika Blegen, Lori Weaver & Tana Gygi! Thank you!
“I’m a real estate agent in the area and have had the good fortune of working with Nicole Paulson and her team at TitleSmart for several closings. I have been blown away by how professional, responsive, timely, and just plain AWESOME they are! On multiple occasions Nicole and her team have gone out of their way to make things the best possible experience for me and my clients. Their customer service is not just top notch, it is above and beyond. I would highly recommend them to anyone! Recently I was asked to work with another title company by a client I was working with — I have realized just how lucky I am to work with Nicole at Title Smart. They are really a cut above everyone else in the Twin Cities. Thank you, Nicole!”
Hi Lynn, I just wanted to say thank you for making this happen and helping us close this one! You’re an asset to us all.