Wednesday, February 20, 2008

First American Title Insurance

First American Title Insurance

First American is one of the nation's leading, most experienced providers of title insurance, and number one in global title operations. This segment's businesses utilize information to protect real property buyers and lenders from problems that might affect title ownership. Through nearly 1,200 offices and thousands of agents in the United States and abroad, the company offers a wide variety of title insurance and associated closing and escrow services. Coverage is provided on residential and commercial properties, personal property collateral, aircraft, nautical vessels, and more.

The First American Corporation

Based in Santa Ana, California, where they have had their roots since 1889

$2.5B Market Capitalization

Traded on the New York Stock Exchange as FAF

A FORTUNE 500 Company

One of America's Most Admired Companies

A Technology Leader and eBusiness Innovator

What is Title Insurance

Title insurance is a special type of insurance that protects the insured from loss on a specific piece of property. A Title Insurance Policy provides security against the loss of land as a result of a title problem. Title Insurance can be purchased with or without limitations and exclusions. When purchasing property in the United States, most Banks and Mortgage companies require Title Insurance prior to granting a loan.

It is equally important when purchasing property in Mexico. A Fideicomiso (Living Trust) DOES NOT take the place of or exclude the need for Title Insurance. (A Fideicomiso can be dissolved in the event of Fraud, Errors and Omissions and certain Gov't and Ejido claims.) When purchasing Title Insurance in Mexico, be sure to read the master policy thoroughly and check for limitations and exclusions.

Some title insurance companies insure only the Fideicomiso (Living Trust) and exclude fraud, gov't and Ejido claims, even certain developer liens. This should not be acceptable. At Playa de Oro, First American Title Insurance excludes none of those items and offers total Title Insurance protection! If the Title Company is not willing to take those risks after thoroughly investigating the matter, NEITHER SHOULD YOU!

When purchasing title insurance in Mexico make sure that the policy is on the land not just the Fideicomiso.

Total and Comprehensive Title Insurance - Playa De Oro

Playa de Oro pays for First American Title Insurance to issue individual policies to every owner on their lot purchase.

All Title Insurance Policies are not created equal

First American Title Insurance is on the land itself.
Most other title insurance companies insuring property in Mexico insure the Fideicomiso (Bank Trust) only.

First American's Title Insurance on Playa de Oro property has no fraud nor ejido exclusions.
Most other title insurance companies insuring property in Mexico have limitations and exclusions usually on third party claims and fraud.

First American Title will defend your rights in court with their lawyers.
Most other title insurance companies insuring property in Mexico will reimburse your expenses when you defend your rights in court. (Big Difference!!)

First American Title will defend you and your heirs in case a title issue arises long after you have resold your property.

BE SURE TO READ Policies thoroughly!

Cost: Playa de Oro proudly provides, to each of its owners, a full coverage policy for the purchase price of the lot at no additional cost. Because of the original policy and costs covered by Playa de Oro, additional and/or updated coverage to insure the value of a home, and even appreciation, can be purchased very reasonably (approximately $5-$7 per thousand) and is a one-time fee.

"Playa de Oro is one of the cleanest and best properties for sale in Mexico." - First American Title Insurance.

The multi-billion dollar insurance companies Grupo Nacional Provincial, S.A. and First American Title Insurance Company guarantee your purchase and ownership at Playa de Oro even against any third party intervention including Government and Ejido claims.
Source: http://www.mexico-real-estate.us

Monday, February 18, 2008

What is Title Insurance & Why Do I Need It?

Home-ownership is an integral part of the American dream, yet like anything else, purchasing a home comes with certain risks. Homeowner’s insurance and flood insurance help protect you from loss or damage due to theft, fire, or acts of nature.
But what if your ownership itself was challenged?
Title insurance protects property owners or others with a financial interest (such as a mortgage lender) from loss or damage as the result of liens, encumbrances, defects in, or the unmarketability of title to the property.

Keys to OwnershipThese losses may occur because of forgery, fraud, defects in the public record, or many other risks. Unlike a Homeowner’s Policy, which insures you from future events, an Owner’s Title Insurance Policy protects you from undisclosed matters that occurred in the history of your property until the date your deed is recorded.
If an issue does arise due to a defect in the title, the Title Insurance Company pays all costs in defending a lawsuit.

To minimize risk to the homeowner and the lender, the Title Insurance Agency examines the public record to uncover potential issues. The Title Insurance Agent then works with your attorney to clear up as many of these issues as possible. The importance of an accurate and thorough examination of the title history should not be underestimated. Many potential title problems can be eliminated before your deed is even signed.

Colonial Title and Abstract Service has been providing quality title insurance and title related services to New Jersey residents since 1979. Our knowledgeable and friendly staff benefits both from many years of title experience as well as access to the latest technology. Customers of Colonial Title and Abstract Service can rest assured that a reputable independent title agency is meeting their title insurance needs.

Title insurance rates and charges are filed with the Department of Banking and Insurance by a bureau of Title Insurance Companies, so the amount that you pay for title insurance shouldn’t vary much from Title Company to Title Company.

When purchasing a home, the title insurance premium is a one time fee and your Owner’s Title Policy is effective for as long as you own your home. When refinancing, there are additional title costs associated with insuring the new mortgage.

To get an estimate of what you might pay for title insurance, please see our user-friendly Title Rate Calculator found at: http://colonial-title.com