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"It's Your Choice" |
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Title Company |
| Real Estate Title Insurance | Title Searches | Escrows | Residential Closings | Commercial Closings |
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Title insurance protects you from losses that occur from various matters affecting the title to land. There are two basic types of policies: An Owner's Policy to protect the owner and a Loan Policy to protect the bank's mortgage. Do I have to use the title company the lender chooses? You are entitled to choose which company writes title insurance for you. Choose wisely. Ask who owns the title company. Why do I need an Owner's Policy? The Loan Policy only protects its interest. As your loan decreases so does the coverage under a Loan Policy. You need coverage that does not decrease. We recommend an enhanced Owner's Policy that also increases the coverage as time passes. I paid for a title search--why do I need to buy title insurance also? A title policy insures against many title defects which could not be discovered in a title search, as well as insuring against errors made in the title search itself. Title searches typically have many disclaimers and may not even be relied upon by you. The title search is only as good as the entity or person that issues it unless they have errors and omissions insurance. Ask Them. Is an Owner's Policy expensive? How long does it last?
A one time premium covers you throughout your ownership and
after. When you are already paying for a Loan Policy, the
additional cost for an Owner's Policy is usually quite
small. |
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900 South Gay Street,
Riverview Tower, Suite
2102-B - Knoxville, Tennessee 37902 |