Showing posts from March 30, 2008

Homeowner'S Policy Of Title Insurance

Providing the Best to REALTORS®
The superior coverage of the Homeowner's Policy of Title Insurance, backed by the nation's best title insurer, provides outstanding benefits to REALTORS® as well. Here's how:
Reduces the REALTORS® exposure in a transaction regarding certain regulatory matters. Increases the client's satisfaction and confidence by providing the finest protection available. Helps ensure the client's ability to resell the home in the future, free of potentially damaging title problems. Gives the REALTOR® and client peace of mind in the increasingly complex world of real estate. Informing clients about premium title insurance such as the Homeowner's Policy makes good business sense. With superior title coverage issued through a b and reputable title insurer, REALTORS® and clients benefit from two critical layers of protection. Providing the B…

21 Reasons For Title Insurance

Buying Property Is A Numbers Business
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 mortgage in the chain of title may be a forgery. A deed or a mortgage may have been signed by a person under age.A deed or a mortgage may have been made by an 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 federa…

Common Ways To Hold Title

Title to real property in California may be held by individuals, either in Sole Ownership or in Co-Ownership. Co-Ownership of real property occurs when title is held by two or more persons. There are several variations as to how title may be held in each type of ownership. The following brief summaries reference seven of the more common examples of Sole Ownership and Co-Ownership. SOLE OWNERSHIP
A man or woman who is not married.
Example: John Doe, a single man.An Unmarried Man/Woman:
A man or woman, who having been married, is legally divorced.
Example: John Doe, an unmarried man.A Married Man/Woman, as His/Her Sole and Separate Property:
When a married man or woman wishes to acquire title as their sole and separate property, the spouse must consent and relinquish all right, title and interest in t…

Steps In The Title Process

Initial Request for Title Insurance
An order for title insurance is opened with a title officer who produces the initial response promptly within 24 to 48 hours. A preliminary report can be issued with the minimum of information; without even identifying the buyer or the terms of the sale. It shows the record title as it presently exists and is only an offer to provide insurance. To order a preliminary report contact your local Chicago Title representative or office. On-Site Searching and Examining
Your title officer performs three searches: Property, Name, and Tax searches. From that information, a preliminary report is created. Our on-site customer service center expedites the process of obtaining hard copies of recorded documents. Imaging helps to expedite searches with the ability to obtain documents on-line. Technical Review
The skil…