Frequently Asked Questions

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Q. What is title insurance?
    A.What if you could pay an insurance premium one time for the entire time you live in your home and that policy would protect your right to ownership of the property? With a title insurance policy, you have the highest available form of protection for your rights as an owner of real estate in America today.

Unlike hazard insurance, when you purchase a property, the title policy normally paid by the seller, is issued in favor of the buyer for a one-time premium. As long as the new owner owns the home, they are covered under the title insurance policy with no renewing premium for the owner's title policy. The purchaser is normally responsible for the mortgage title policy at a minimum rate of under $200 (without endorsements).

Please keep in mind that the lender, in a purchase or refinance, is going to require a new title policy, and unless the buyer/owner purchases one, he has no coverage. In other words, if the lender has coverage it does not carry over to the owner unless the owner has previously, or in the instant transaction, buys a policy.

In the event that you choose to refinance your home and a new mortgagee's policy is issued to your new lender, you will receive a premium credit on the new policy up to 7 years from the origination of the original mortgage.