Lenders and owners can close with the confidence that they’re protected against losses from hidden risks to the title. Our title insurance policies are underwritten by Fidelity National Title and Stewart Title and Guaranty Company.
What is Title Insurance?
Title insurance is a type of insurance that protects lenders and property owners against financial losses resulting from defects in the title to a property. These defects could include liens, errors in public records, and other issues that could arise after a property is sold.
Are there different types of title insurance?
Yes, there are two main types of title insurance - lender's title insurance and owner's title insurance. Lender's title insurance is typically required by the lender to protect their investment in the property. Owner's title insurance, on the other hand, is optional and provides protection to the property owner.
What kind of title insurance do I need?
The type of title insurance you need depends on whether you're a lender or property owner and whether you want protection for just the length of your mortgage or for the life of your ownership. Our experienced team can help you determine which type of title insurance is right for you.
Lender's Title Insurance
Lender's title insurance is a requirement from the lender and protects their interest in the property. It provides coverage for any losses or damages incurred as a result of title defects or problems. This type of title insurance is purchased for the life of the loan and typically required by lenders when a property is being used as collateral for a loan.
Do I Need Lender's Title Insurance?
If you are obtaining a mortgage or other type of loan, the lender will likely require you to purchase lender's title insurance. This is to ensure that the lender's interest in the property is protected against any title defects or issues that may arise.
Owner's Title Insurance
Owner's title insurance is optional and protects the owner's interest in the property. It provides coverage for any losses or damages incurred as a result of title defects or problems, even if they are discovered after the closing of the property. This type of title insurance is purchased for a one-time fee and provides coverage for the lifetime of the policyholder's ownership of the property.
Do I Need Owner's Title Insurance?
While owner's title insurance is optional, it provides peace of mind and protection for the owner against any hidden title risks. If you are purchasing a property, it is recommended to consider purchasing owner's title insurance, especially if the property has a complex history or if there is any uncertainty regarding the title.
What do realtors need to know about title insurance?
Real estate agents and brokers should have a good understanding of title insurance as they work with clients to close on a property. They should be able to explain the benefits of title insurance and help their clients choose the right type of policy.
Why Alliance Title is the Expert Choice
At Alliance Title, we have a team of experienced title insurance professionals who are dedicated to providing the highest level of service. Our title insurance policies are underwritten by Fidelity National Title and Stewart Title and Guaranty Company, two of the largest title insurance underwriters in the country.
Protect your investment with the peace of mind that comes from choosing Alliance Title for your title insurance needs. Contact us today to learn more and get started.