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Resources

  • What is title insurance? Open or Close

    Title insurance is protection against loss arising from problems connected to the title to your property. Before a property is purchased, it has gone through many owners. You can think of all past owners as links in a chain – the chain of title. A weak link in the chain could cause trouble. For example, twenty years ago an owner died and left the property to his heirs. One of the heirs could not be found, but has now surfaced to claim the property. Title insurance covers the insured party for any claims and legal fees that arise out of such a problem.

     

  • Why do I need title insurance? Open or Close

    You need title insurance to protect you and your lender. Your home is often the largest single investment you will ever make. Title insurance protects you against loss from defects in the title, and/or claims made by others that a defect exists. The purpose of title insurance is to protect against loss caused by defects. Lenders require title insurance before they will loan money. Without title insurance, your down payment and equity are at risk should a title defect be discovered.

    Once insured, you are protected from title defects and claims against the title to your property even if they are not discovered for many years. Defects or problems could include fraud, forgery, unknown heirs, liens and encroaching neighbors. If you are uninsured and your title is challenged, you will have to pay to defend yourself in court, and after paying all the attorney's fees you could still lose the property. An owner's title insurance policy also pays for your attorney's fees as well as paying you if you suffer a loss.

  • What should I look for when selecting a title agent? Open or Close

    Choose an agent with a sound reputation for honesty, integrity, knowledge and experience in all phases of title insurance and one who provides efficient and dependable service to its clients. Another important criteria is longevity. Hendrich Title Company fufills each of these criteria and has the experience of five generations in the title insurance area. 

  • When does title insurance protection begin and end? Open or Close

    Title insurance protects against losses arising from events that occurred prior to the policy date. It is the only type of insurance that insures past events, unlike property, life or auto insurance, which protect against losses resulting from future events.

  • Who chooses your title insurance agent? Open or Close

    Often, people will rely on a mortage lender or real estate agent to make the choice of their title insurance agent. However, the individual may retain the right to choose the insurer. The decision is yours to make. Choosing the right title insurance company is imperative to a successful closing, and it is vital that your title company be well versed in all aspects of the closing process.

    For more information about home closings, please visit HomeClosings101.org