Title Insurance Explained
In general, insurance is defined as a confidential obligation whereby
one party agrees to idemnify or reimburse another party for loss or damage that
may occur under the terms and provisions of their contract. This contract
is typically called a Policy. Unlike casualty or life insurance, which
insures on future events, title insurance insures with few exceptions against
past events. It insures the ownership of the property and all matters
pertaining to its past history. While commonly misunderstood by home
buyers, this insurance should ease the concern of any past title issues.
Public Records Searches
When dealing with title insurance policies, the term "public record" is
mentioned frequently. The public records that are examined generally
include those found in the following locations:
1. Any taxing authority that levies taxes or assessments on real
property.
2. The county recorder of the county in which the subject property is
located.
3. The clerk of any county courts: Circuit, Probate, Superior, Juvenile,
Municipal, Small Claims, Domestic, etc.
4. The clerk of the U.S. District Court as to bankruptcy proceedings when
the records of the original proceeding are kept in the same county in which the
property is located.
Policy
The policy of title insurance insures the ownership of the property. The
title policy shows the condition of title and matters like taxes, conditions,
liens, easements, and restrictions.
The purchase of real property often represents the largest single investment a
person will make during his/her lifetime. the protection and peace of mind
offered through a title insurance policy is well worth the cost.
Cameron Novak
Corona Short Sale Agent
The Homefinding CenterTM
Serving Corona, California and Surrounding Areas
951-212-7479
© Copyright 2010 by Cameron Novak.
Here are some helpful Eastvale and Corona, California website links:
- Eastvale Home Search
- Eastvale School info
- Eastvale Statistics, Demographics, & Info
- Eastvale Real Estate
- Corona Crime Maps
-
Corona City Website
Our team specializes in Short Sale Negotiation and can assist you with a purchase or sale of any home in Corona, Chino Hills, Riverside, Lake Elsionore, Mira Loma, Eastvale, Chino, Yorba Linda, and surrounding communities.
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