The Title Company will search the public land records for matters relating to the specific title. That search may go back as far as 60 years. Title problems such as deeds, wills and trusts that contain incorrect information, outstanding judgments or tax liens against the property or easements are identified. The Title Company fixes these problems and issues the Title Insurance.
There are two types of title insurance, Lender Title Insurance and Owners Title Insurance.
Lenders Title Insurance - this is typically required by the lender in the form of a Loan Policy, which protects the lender's interest in the property, should a problem with the title arise. The policy amount decreases commensurate with the loan.
Owner's Title Insurance is usually issued in the amount of the real estate purchase. It is purchased at the time of closing for a one-off fee and lasts for as long as you or your heirs have an interest in the property. Owner's Title Insurance fully protects the buyer should a problem arise with the title that was not uncovered during the title search.
Residential & Commercial
REAL ESTATE SETTLEMENTS
These settlements can be conducted at our offices or off-site at your home or office.
We are licensed to close in Pennsylvania and New Jersey. Now we can do the closing for your shore house. In addition Direct can also provide settlement services in Delaware and Maryland, upon special request.
Lender & Owner