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Angel Said:

Can I file a claim against title insurance?

We Answered:

This isn't at all related to title insurance.

Title insurance, is when someone comes back and says you don't own the house, because the guy who sold it to you, didn't own the house because they forged the deed. Or the great uncle inherited it, and not them.

It's all about ownership of the land. It has nothing to do with permits.

The only time pipe breakage isn't covered, is when the pipes FREEZE AND BURST, due to no heat, when the house is vacant. It's not about the glue. It's about the fact that there was no heat, and it's wintertime, and you didn't shut off the water before you vacated the house.

This claim flat out isn't going to be covered.

Adrian Said:

Are all title insurance policies required to check for liens?

We Answered:

A Title Insurance Policy guarantee's a title free from liens They will do a title search to avoid a lawsuit.

This depends on whether its an OWNERS POLICY or a MORTGAGE Insurance Policy. IAre you talking about a MIP (Mortgage Insurance Policy}. You need to purchase the Owners Title Policy.

Bobby Said:

What does an Owner's Title Insurance Policy look like?

We Answered:

it would not be with your original loan package. it is sent later by the title insurance company associated with your loan. if you call your lender and ask for the title officer's contact info, they will be able to provide you with a copy of the owners policy. your lender should already know how to do this themselves, and i've never heard of requiring a copy of the current owner's title insurance policy anyway.

Danielle Said:

The major difference between an owner’s title insurance policy and a lender’s title insurance policy is?

We Answered:

Title insurance covers any mistake in the title search when a property is purchased. Say, for example, you buy a house for $100,000 and you think you are getting free and clear title to the house. After the closing, you find out that the previous owner had been in a car accident, was at fault, and there was a court judgment against him that was filed one week before the closing. And, the judgment filed a lien against his house for $50,000 two days before your closing. This lien was not discovered during title search. In this case, since you now own the property, if the previous owner does not pay that $50,000 judgment, you cannot sell your house without paying the judgment yourself (outrageous, but true!).

Your mortgage lender will require you to pay for lender's title insurance to covers the lender. If such a scenario as above is discovered, the title insurance company will reimburse the lender for their lost equity in this problem. But, they won't pay you for your lost equity. Only owner's covers the owner.

Ricky Said:

Do I need an owners title insurance policy?

We Answered:

Generally only done when the property changes hands. Your lender takes out a lender's policy; if something happens that is a title related flaw, he'll be made whole.

Cecil Said:

Does title check and a title insurance policy tell you if you have an easement? (maybe landlocked)?

We Answered:

No it should not come up.

The easement is recorded on the deed, and the deed of the one the easement exists on, not the one served.