The Market’s Best, Most Extensive Coverage
Through Avenue Title Group’s underwriters, the nation’s leading title insurance companies, we offer the most extensive title insurance available on the market.
TITLE INSURANCE BENEFITS FOR REAL ESTATE PROFESSIONALS
Avenue Title Group’s underwriters issue title insurance which extends numerous advantages to real estate agents:
- Gain client confidence and trust by extending the highest quality and best coverage available.
- Decrease your exposure in a transaction regarding certain matters of title.
- Increase the resale potential of the home by insuring additional title risks.
TITLE INSURANCE BENEFITS FOR BUYERS
Why do I need title insurance?
Title insurance protects possibly the most important and most expensive investment you’ll ever make: your investment in real estate.
Lenders go to great lengths to minimize the risk of lending money. First, the borrower’s credit is checked. Then, the lender seeks assurance that the quality is satisfactory for the title of the to-be-acquired property, which will be pledged as security for the loan. The lender does this by obtaining a loan policy of title insurance. However…
The loan policy does not protect the borrower.
Rather, the loan policy protects the lender against loss due to unknown title defects. It also protects the lender’s interest from certain matters that may exist, but may not be known at the time of the sale. For this reason, a real estate purchaser needs an owner’s policy, which can be issued at the same time as the loan policy, usually for a nominal one-time fee.
What is the danger of loss?
If the lender has title insurance protection and the owner does not, the owner risks losing his or her down payment and any equity in the property. Additionally, if a problem with past ownership of the property arises, the purchaser is responsible for financing his or her own legal defense. Ultimately, if defense is unsuccessful, it could result in total loss of title.
Between the risk of loss of the down payment, legal fees, equity and potentially the title, it amounts to a massive risk of investment.
What does title insurance protect against?
Title insurance is issued after a careful examination of copies of the public records, but even the most thorough search cannot absolutely assure that no title hazards are present. Below is just a sampling of the most common defects and hidden risks that can cause loss of title or create an encumbrance on title:
- False impersonation of the true owner of the property
- Forged deeds, releases or wills
- Undisclosed or missing heirs
- Instruments executed under invalid or expired power of attorney
- Mistakes in recording legal documents
- Misinterpretations of wills
- Deeds by persons of unsound mind
- Deeds by minors
- Deeds by persons supposedly single, but in fact married
- Liens for unpaid estate, inheritance, income or gift taxes
How does title insurance protect against defects and hidden risks?
Title insurance will pay for defending against any lawsuit attacking the title as insured, and will either clear up title problems or pay the insured’s losses. For a one-time premium, an owner’s title insurance policy remains in effect as long as the insured (or the insured’s heirs) retain an interest in the property, or have any obligations under a warranty in any conveyance of it. Owner’s title insurance, issued simultaneously with a loan policy, is the best title insurance value a property owner can get.
Please visit these websites for more information on title insurance and our title insurance underwriter: