984-439-1633
info@securetitlenc.com

PROTECTING YOUR

MOST VALUABLE

REAL ESTATE ASSETS

What Is Title Insurance and

Why Do You Need It?

Title insurance is a type of insurance that protects mortgage lenders and/or homebuyers against claims questioning the legal ownership of a home or property. Unlike other forms of insurance, title insurance protects homebuyers and lenders from issues that occurred in the past, rather than issues that may arise in the future. The behind-the-scenes work of title companies ensures the quick and secure transfer of land, fostering lender and consumer confidence in their real estate investments.

Title insurance protects lenders and homebuyers from financial loss sustained from:

Confusion due to similar or identical names
Fraud in the execution of a deed or other covered document
Impersonation of the owner
Incorrect indexing of the land records
Incorrect legal descriptions
Misrepresentation of wills or trusts
Non-delivery of deeds
Transfer of title by a minor
Transfer of title through foreclosure sale where requirements of foreclosure statue have not been strictly met.
Undisclosed or missing heirs

What Are the Types of Title Policies?

There are two types of title insurance policies: owner’s title insurance (an Owner’s Policy), which protects the buyer, and lender’s title insurance (a Loan Policy), which protects the lender.

In a typical residential transaction, the title policy often required by the mortgage lender will not safeguard the rights and interests of the homebuyer. Therefore, a separate Owner’s Policy is necessary. An Owner’s Policy is typically issued in the amount of the real estate purchase price and remains in effect for as long as the owner or their heir retains an interest in the property. In addition to identifying risks before a transaction is completed, the Owner’s Policy will cover valid claims and all defense costs against attacks on the title.

A Loan Policy assures the lender of the validity, priority, and enforceability of its lien (mortgage), serving as protection for the lender’s security interest in the property. A Loan Policy is issued in the amount of the loan, and liability decreases as the mortgage debt is reduced.

The Loan Policy provides the lender a high degree of safety against loss of capital from title hazards. By identifying risks and eliminating them whenever possible, the title industry is a major element in encouraging lenders to invest in mortgages rather than in other assets with lower risk.

The Loan Policy guarantees the lender a valid and enforceable lien and assures that no claimant other than those noted in the policy has a prior claim against the real estate. The policy assures that the purchaser-borrower has title to the property being pledged as security for the loan. It also obligates the title insurer to pay for defending against any claim filed against the title that might supersede the lender’s lien. If unsuccessful, it must also satisfy that claim should it be upheld in court. Another benefit is the in-depth expertise of title company experts, who facilitate the mortgage loan process and help in resolving differences among the various parties in a transaction. This can range from relatively routine assistance in a basic residential loan to helping with the multifaceted legal and financial aspects of a complex, multimillion-dollar commercial transaction.

How Much Does a Title Insurance Policy Cost?

Title insurance protection is significantly different from other kinds of insurance. It is a one-time premium that is modest in relation to the value of property involved. Typically, the cost of a title premium for a homebuyer is around 0.4 – 0.5% of the purchase price.

Other types of insurance assume a particular risk and provide financial indemnity in the event the risk occurs. Title insurance, on the other hand, emphasizes loss prevention by eliminating risks caused by title problems arising from past events.

Click here to calculate a title premium.

Our Happy Clients Say...

"Secure Title is a “Great resource”, they help you overcome objectives. They will handle a last-minute request at the end of a long busy day. Secure Title provides a great service and are gratified with assisting your needs. Very quick and efficient with great personalities that are very personable, an inventive team. They keep open communication, and Christina Langley is always available to you. " - Sincerely, Heather Lynn Smith, NCCP

“I have worked with Christina for several years now ,and I cannot say enough good things about not only the exceptional service provided by Secure Title, but also the level of above and beyond personality Christina injects into everything she does. I have found over my many years of working in this business that it is not enough to be knowledgeable and get the job done. It is important to be knowledgeable and get the job done with a friendly, personable attitude that lets you know your business is appreciated. That you are appreciated. Christina and Secure Title provide timely quality service in an industry where both are of utmost importance.” - Margaret Willis Murphy

“I love Christina and Secure Title. Their response time is incredible! There is no title company I trust more to get me a title commitment when I need it fast! Any serious closing attorney should be using Secure Title.” - Daron D. Satterfield

“Secure Title is fast and efficient when it comes to providing excellent title services. Christina is polished, proficient, and knowledgeable, you will not go wrong choosing Secure Title.” - Desmond Penny-Leach

“I LOVE working with Secure Title as I feel that not only is the service great, but I actually learn more about and understand the importance of title insurance with each transaction that I have with Secure, and I can honestly say that I have never gained as much information with any other title company.” - Dede Carney

“It is such a breeze working with Christina. She is very knowledgeable, personable, and always takes care of my clients (even after hours, when I am sending rush requests)! My firm and closing process is definitely better because of her and her team!” - Shilanka I. Ware

"When it comes to expertise as well as reliable and prompt assistance, Secure Title is the gold standard. Christina has been able to assist in instances when many others could not. Not only that, but she has done so in the most positive and friendly way, despite the challenges. Above all, she ensures that you know that your business is appreciated, and that you and your clients are not just another file. I genuinely cannot say enough about Christina and Secure Title. You have to work with her to understand just how wonderful her and her business are!" - Phillip Lewis

Our Title Partners

Column

Mailing Address:

8311 Brier Creek Pkwy Suite 105-300

Raleigh, NC 27617

Column

Phone: (984) 439-1633

Fax: (984) 219-2070

Column

Email: info@securetitlenc.com

Secure Title is here to serve you!

Service Areas: Serving the Carolinas & Virginia as a Trusted Agent for AmTrust Title, Chicago Title & Stewart Title!