Issuance of Title Insurance Policy
An owner's policy protects only the owner while a mortgage policy protects only the holder
of the mortgage on the property. Separate policies are required to protect both interests.
Special rates are available when both owner's and
mortgage policies are applied at the same time.
The owners policy of title insurance usually is issued after the deed to the buyer is
delivered and recorded. A purchasers policy is usually issued after the contract has been
executed by both parties or after the signed contract has been recorded. The mortgage
policy of title insurance is usually issued after the mortgage or deed of trust has been
properly executed and recorded.
The coverage of your policy is against all matters that appeared of record up to the date
of issuance of your policy. Since that time many documents may have been recorded, some of
which may affect the title to your land. Taxes and
assessments may have accrued and be unpaid. There may have been actions in court affecting
your title. The purchaser is entitled to have full information and protection as to the
condition of the title right up to the date of his purchase. In
addition, there may be matters of record which would prevent either the seller or buyer
from selling, buying, or mortgaging land until such matters have been cleared. These items
include such things as federal tax liens, judgements, incompetencies, divorce actions and
other conditions which the title search may disclose. |
Insurance Information
Homeowners
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Title Insurance
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Title Insurance Policy
Flood Insurance |
