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  Title Insurance & Title Searches  
  Purchasing a new home, condominium, townhouse, apartment building, commercial space or raw land may possibly be the biggest single investment you may make. Title insurance will protect your interest in the ownership of that real estate. When making the decision to purchase or refinance real estate you should be aware that it is your right to choose the title company that will represent you to insure the property and the lender you have selected.


  What is Title Insurance?  
  It's insurance that protects you and lenders from any loss incurred as a result of a defect in the title. That could be an ownership interest that no one knows about, or a lien incurred by a previous owner.

When you refinance you are obtaining a new loan, even if you stay with your original lender. Your lender will require lender's title insurance to protect their investment in the property. You will not need to purchase a new owner's title policy; the one you bought at closing is good for as long as you and your heirs have an interest in the property.


  What is a Title Search?  
  Construction of a new home raises special title problems for the lender and owner. You may think you are the first owner when constructing a home on a purchased lot. However, there were most likely many prior owners of the unimproved land. A title search will uncover any existing liens and a survey will determine the boundaries of the property being purchased. In addition, builders routinely fail to pay subcontractors and suppliers. This could result in the subcontractor or supplier placing a lien on your property. Again, lenders want to be sure the property has clear title, and they are insuring the correct property. Title insurance will protect you against these potential problems and pay for any legal fees involved in defending a claim.

To find out more, contact us here.



* The statements made on this web page and any page that follow within the Greater Pennsylvania Abstract Co. website are not intended, and shall not be construed to
expressly or implicitly issue or deliver any form of written guaranty, affirmation, indemnification, or certification of any fact, insurance coverage or conclusion of law.