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title insurance: Title Process....Did you know? - 03/25/09 09:23 PM
I started this series several months back and so would like resume by helping with the understanding of the actual process of what is involved in the ordering a title insurance policy.
So let's start at the beginning. When a title ordered is placed a whole series of events have to occur to get the ball rolling to a closing.
The 1st is an active search of public records for the property in question (kind of antiquated). Fortunately, all property records are a matter of public record. Everything from the property legal description, all the owners of the property, the liens … (8 comments)
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title insurance: Is title boring? It depends how you look at it...right? - 01/29/09 10:16 PM
Title is often referred to as a necessary evil. It is insurance, after all. We pay for it in the hope that we will never need it, but when we do, we are typically glad we had it.
Well, title insurance is no different. What would you do, if you found out 12 years ago that the house you bought had a lien that was attached to an owner that was no linger living? Your options are fairly thin and there really is not much you can do, except try to work it out through the legal system......Unless!
You have a … (4 comments)
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title insurance: Did you know?........Title definitions ~ Official Glossary D-M - 09/17/08 04:10 PM
This is a continuing series from my blog post on the 21st of August, Did You Know?.....Title Glossary A-C
The title industry has its own language. Many of the definitions are derived from Latin phrases. Many are commonplace words or idioms found in our daily language, but specific to land titles. Nonetheless, they are an important part of a real estate transaction. So, as an ongoing service....here is some useful stuff! Title glossary:
D
Deed- A document through which a conveyance of property is effected.
Deed Restriction- A covenant contained in a deed imposing limits on the use or occupancy of … (4 comments)
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title insurance: Did you know?......Facts about title insurance that you may not know - 09/11/08 09:12 AM
Good morning, my friends,
Title insurance may be the most misunderstood product and part of the real estate transaction in the whole process of transferring property. Property records are disjointed and confusing at best. There is no consistent recording methods and the laws pertaining to them are not easily disseminated or maneuvered. When I got in the mortgage business 15 years ago and since then, I have seen 1000's of closings. I have reviewed 1000's of HUD1 settlement statements. I have even closed many loans and until a year ago, I figured a had a pretty good handle on it. Well, … (14 comments)
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title insurance: Did you know?...... Title definitions ~ Official Glossary A-C - 08/21/08 09:46 AM
The title industry has its own language. Many of the definitions are derived from Latin phrases. Many are commonplace words or idioms found in our daily language, but specific to land titles. Nonetheless, they are an important part of a real estate transaction. So, as an ongoing service....here is some useful stuff!
Title glossary:
A
Abstract - A history of all transactions shown in the public records affecting a particular tract of land
ALTA (American Land Title Association)- The trade association of the title insurance industry, which has adopted certain insurance policy forms to standardize coverage on a national basis
Appurtenance- … (4 comments)
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title insurance: Did you know?......Lien types - 08/03/08 09:44 AM
Good morning friends!
My company was performing a title request for a client the other day and after a full property search, several liens appeared that were not removed from previous refinance transactions. This underscored the need for owners title insurance, 1.) To protect against errors and 2.) the need for an experienced title agent to not make these errors in the first place. (sounds like a conundrum?) If the liens are not removed properly after a refinance or completion of a purchase, it can be a very sticky situation to clean up later on.
Nonetheless, are you aware of the … (10 comments)
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title insurance: Did you know?...... What is a chain of title? - 07/11/08 10:41 PM
Hello again my friends,
A chain of title, you ask? Every lender typically requires it. It is includeded in most title commitments and final policies and then recorded as a matter of public record, so what the heck is it?
Very simply, it is a system of recording the different owners and the transfers of a particular piece of property or real estate. Title Insurance companies (Fidelity National, Chicago Title, Old Republic, to name a few) in the … (5 comments)
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Bo Hussung
Nashville,
TN
More about me…
Netco Title
Address: Nashville, TN, 37205
Office Phone: (615) 438-7300
Cell Phone: (615) 438-7300
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