What is title insurance
Public Title Agency offers quality title insurance, and we’re ready to serve you. A title insurance policy is a contract insuring you against a loss in the event a covered title defect occurs resulting from a claim against your ownership. If a claim is made against your property, title insurance will, in accordance with the terms of your policy, assure you of a legal defense, and pay all court costs and related fees; or, if the claim proves valid, you will be reimbursed for your actual loss up to the face amount of the policy.
What all do we investigate
A title company will research public records before closing in an effort to eliminate risk. Some documents that can present concerns include:
- Deeds, wills, and trusts that include improper wording or incorrect names
- Outstanding mortgages and judgments, or a lien against the property due to back taxes
- Pending legal action against the party that could affect the purchase
- Easements and Right of Ways that may allow access by others.
How long does it take
We know you’re excited but generally the time it takes to get a closing of a real estate transaction is largely determined by the contract between the parties and the time needed to get the lender approval if a mortgage is involved. In a typical residential transaction, most contingencies (other than financing and sale of the Purchasers residence) can be removed within a few days. Financing should be resolved within 30-45 days, depending on the lender and the type of loan being applied for.
