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strongsville real estate: Title Evidence: What is the purpose of Title Insurance: Strongsville Real Estate
- 10/12/08 04:28 PM
Posted by: CJ HarringtonKeller Williams Realtywww.cjharrington.comcjharrington.crs@gmail.com440.336.0612 Date: 10/12/08 The purpose of title insurance is to protect the owner, mortgagee or lesee of real estate against defects of the record of title and any additional defects which would not be disclosed by the most thorugh examination of the title record. Thes may include: 1. Forged documents such as deeds, mortgages, waivers, assignments, and mortgage cancellations 2. False impersonations 3. Mortgages cancelled by mistake or undisclosed dower 4. Undisclosed heirs and devisees 5. Missing heirs presumed to be dead 6. Mortgages and deeds made by insane parties 7. Mortgages and deeds made … (0 comments)
Title insurance is a contract of indemnity whereby the title company, as insurer, guarantees that the title of an owner, mortgagee or lessee is good and is free from defects, liens or encumbrances, existing at the inception of the policy, except those mentioned within the contract (so make sure to read you policy....). Within this policy, the title company obligates itself to defend the policyholder at its loss, up to the full amount of the policy, suffered by the insured due to any defect, lien or encumberances found to exist at … (0 comments)
A title guarantee is an indemnity contract where the title company, as insurer, guarantees that, the record of a property appears to show that the title to a designated parcel of land is good in the stated party subject only to such defects, liens and encumbrances as are set forth in the title guarantee. Still, no coverage or protection are afforded in this form against liens or defects which are not revealed by such an examination of the public record. This is why an individual would purchase title insurance, in order … (0 comments)
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