For most of us, the purchase of our home is the single biggest investment we ever make. We certainly don’t want any problem to threaten the transaction. Please take a moment to review the following information.
What is Title?
Title is the legal evidence, of right, that a person has to the ownership and possession of land. Since it is possible that someone other than the seller has a legal right to the property you are buying, the premium coverage offered by the Homeowners’ Title Insurance Policy provides you added peace of mind.
There can be any number of problems that remain undisclosed even after the most careful search of public records. These hidden “defects” are very dangerous and sometimes are not discovered for months or even years after you purchase your home. You could be forced to spend substantial money on a legal defense to protect your rights. The Homeowners’ Policy helps protect you against losses and defects and provides legal defense for coverage risks.
Get the Right Title Insurance
“But the lender already requires title insurance. Won’t that protect me?”
Not necessarily. There are two types of title insurance. Your lender only requires that you purchase a Lender’s Policy. However, this policy only ensures the lender has a valid, enforceable lien on the property. It does not protect you! The Homeowner’s Policy, on the other hand, is designed to protect you from title discrepancies.
Basic coverage protects against:
- Someone claiming an ownership interest in your title. - Leases, contracts or options affecting your title. - Someone claiming to have rights affecting your title due to forgery or impersonation. - Someone having a right to limit your use of the land. - Unmarketability of your title. - A defective title.
Action Title, Inc.'s underwriter for title insurance is the ORTIG.
The ORTIG is comprised of Old Republic National Title Insurance Company, American Guaranty Title Insurance Company, and Mississippi Valley Title Insurance Company. It is one of the nation’s largest title insurance groups, operating in 49 states, the District of Columbia, and Puerto Rico, through a network of Company-owned offices, subsidiaries, authorized agents and approved attorneys.
ORTIG is committed to being the most financially stable title insurance group in the industry. Since 1992, the ORTIG has been the highest rated title insurance group in the nation. No group has equaled the ORTIG’s consistently high ratings. These ratings reflect the Group’s consolidated operating performance and strategic relationship with its parent company, Old Republic International Corporation (ORI), and its excellent capitalization, superior liquidity, sound investment strategy, reserve adequacy and market position.
For more information about the Old Republic Title Insurance Group, visit us at: www.oldrepublictitle.com.
