HOME BUYERS OR REFINANCING YOUR EXISTING HOME
Why do I need Title Insurance?
There are so many reasons for the buyers to obtain Title Insurance.
In today's day and age, with the ease of computers and copiers,
it is very simple for documents to be forged, altered and/or duplicated to benefit others.
How can some person or company take claim to my property?
- Forged documents of ownership
- Deed signed by mistake (grantor did not know what they were signing)
- Deed was signed under duress
- Partner claiming rights to property
- Old tax liens that were never satisfied from a previous owner
- Divorce never disclosed, partner claiming rights to property
- Undisclosed prior mortgage
These are a few of the hundreds of different scenarios of how you could lose your home and/or property and yes in some cases, still have to satisfy the loan/mortgage.
Title Insurance can protect your property / home against such claims.
Even though great efforts are practiced to insure your title is clear, sometimes documents were not filed properly or circumstances like the ones listed above can and sometimes will try to take away what you worked so hard for. This is where you need the protection of Title Insurance.
Your home is probably going to be your most biggest asset and investment, therefore it must be protected. Banks and lenders go to great lengths to insure the property you are purchasing is worth its value, protected, insured and that the loan will be paid off. It is the same if you are a cash buyer, you want to protect your investment.
What does a Title Agency do?
Step One
Title Insurance Agencies, depending on different circumstances, begins with a thorough title search through the public records located in The County Court Houses, such as, finding the record owner of the property and seeing if there are any prior liens. The agency will also perform searches to make sure that municipal taxes, water and sewer are current. A Superior Court judgment search is also performed to find out if there are any judgments outstanding.
Step Two
The agency then takes all their findings and insures no discrepancies are found
(unsatisfied liens, taxes, judgments, rightful owner, etc.)
If problems are found, the agency will try to rectify and satisfy that particular problem.
Step Three
The Title Agency will then order a survey through a Surveying Company
so they can insure that there are no boundary disputes.
Surveys are a measurement of property lines and boundaries.
Step Four
Once everything is satisfied through the searches,surveys and rightful ownership, the commitment is prepared.
Step Five
The Title agency will then coordinate the closing and issue the policy.
Payment
You will pay no upfront money to the agency, all payments are due and will be settled at closing. Unlike other insurances where you pay ongoing premiums, title insurance is only paid once, and covers you as long as you own your home, exceptions are refinancing your loan.
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TITLE AGENCY, INC.
CALL TODAY
609.978.0019 FAX US AT 609.978.0910
EMAIL US AT
TITLE@NTACORP.COM
- Fax: 609.978.0910
- Tel: 609.978.0019
Nationwide Title Agency, Inc.
Licensed by The New Jersey Department of Banking and Insurance.
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