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Benjamin Said:

is there any advantage in using the same title insurance company for a refinance?

We Answered:

The kid doesn't know what he is talking about.

Yes, there is an advantage.

If you use the same closing agent be sure to ask what is called a "re-issue rate" on your title insurance which can save you hundreds of dollars.

Frances Said:

In the state of Ohio, an insurance company declares my car "totaled", do I HAVE to get a salvage title?

We Answered:

You have a choice. Tell the insurance company to take their money back. Pay off the car yourself and then pay for the repairs yourself. Then you have the car and a clear title. The law for them clearly states that if the car has damage that exceeds 80% of the value of the car than they can "Salvage" it. When they do that the car can only be re-titled with a salvage title so that all subsequent purchasers of this car know that it has been heavily damaged. However you may do some research and discover the states where there is no salvage title requirements and go there to get the car registered. Seems a bit far fetched but it depends on how much the word salvaged means to you.

Shane Said:

What do I need to do with title before I give it up to the insurance company?

We Answered:

You'll need to sign the back of the title.

Ted Said:

What can I do if the Title Insurance company specifically excluded something in the title insurance coverage?

We Answered:

Ask them for their errors and ommissions insurance.

They all have insurance in case they miss or omit something.

Derek Said:

my title insurance company didnt disclose an easment ( whats it worth?)?

We Answered:

OK, I work for a title company. If there is a recorded easement and the title company missed it you need to file a claim with their CORPORATE office, don't deal with the local office at all. They aren't allowed to talk to you about it. On your title policy jacket there should be listed an address for filing claims. You will need to send a COPY of your policy together with a letter explaining the situation. The company will review and get back with you. Be specific in your letter. The title company may offer you a certain amount of money or may offer you the full amount of your policy in exchange for a deed to your property. If your not satisfied with what they tell you, get a lawyer. You may want to have a lawyer involved before you send the letter, and you may want the lawyer to draft the letter on his letter head. When we do title insurance policies we go back to the date of entry of the land, back into the 1800's in our state. Mistakes are made, but a 40 year search is simply not good enough. Who knows what else they missed. Good Luck.

John Said:

Hello, What does a real estate title insurance company do?

We Answered:

Title companies do a great deal of research regarding everything that has ever been recorded about a property to be sure that the are no prior liens, debts, leases, conveyances, etc against the property before a new owner takes possession. The title company then insures the transfer of the property to the new owner. If something comes up in the future that the title company missed and someone has a valid claim agains the property, the title company will be liable for any money involved.

Joseph Said:

I am selling my house and now the title is showing liens. The title insurance company has sent this issue to?

We Answered:

if the liens were of your making then they must be satisfied at close. If these were liens that were not of your making then the title policy when you purchased the home will have to pay for the hidden liens that they did not find at your point of purchase. In fact some liens are not properly recorded on the right property. Sometimes an error can occur
I am a mortgage banker in TN