Title Services
Title Search
Our title search services are used to verify the ownership and history of a property. The process involves researching and examining public records, such as deeds, mortgages, and liens, to determine the current owner and any outstanding claims or obstructions on the property. The purpose of a title search is to ensure that the buyer of a property is acquiring a clear and marketable title, free of any potential legal issues that may arise in the future. A title search must be completed before you can obtain title insurance.
Title Report
A title report is a document that summarizes the results of a title search and provides information about the ownership, encumbrances, and history of a property. We provide a detailed overview of the current state of the title to the property. This includes information about the current owner, any liens or obstructions on the property, and any previous transactions or transfers of ownership. The purpose of a title report is to give buyers and lenders a clear understanding of the status of the title and to identify any potential issues or risks associated with the property. A title report Is an important tool we utilize to help ensure that the buyer is acquiring a clear and marketable title.
Title Commitment
A title commitment is a document that outlines the conditions and requirements that must be met in order for a title insurance policy to be issued. It is also known as a Commitment for Title Insurance. It is a binding agreement between the title insurance company and the buyer or lender and serves as a preliminary report on the status of the title to the property. The title commitment also includes the requirements that must be satisfied to close the transaction and receive title insurance coverage. Once the conditions outlined in the title commitment have been met, the title insurance policy can be issued.
Title Rates
Title rates refer to the fees charged for title insurance and related services such as title searches, title reports, and title commitments. The cost of title insurance varies depending on several factors, such as the type of property, the location of the property, and the value of the property. Title rates are usually expressed as a percentage of the value of the property and are regulated by state insurance departments. Rates can also vary depending on the type of title insurance policy being purchased. We offer insurance for both lenders and owners, and the rates vary based on the coverage.
We are Birmingham’s local trusted partner of Stewart Title. We provide title insurance protection through Stewart, offering premium options and guidance. Utilize the Stewart Rate Calculator to get an estimate. Contact us to learn more about our services or to order a title.
Title Insurance
Title insurance is a type of insurance policy that protects the owner of a property from financial loss if a claim is made against their ownership of the property. It guarantees the title. The policy provides coverage for various issues related to the title, such as outstanding liens, obstacles, or defects that were not discovered during the title search process. It can also protect against fraud and forgery.
Title insurance is typically required by lenders as a condition of a loan and is also often purchased by buyers as a means of protecting their investment in the property. Title insurance provides peace of mind and financial protection to property owners. The policy remains in effect as long as the insured party retains an interest in the property.
Lender’s Title Insurance
Lender’s title insurance is a type of title insurance policy that protects the lender in the event of a claim against the property’s title. This policy is typically required by the lender as a condition of the loan and protects their investment in the property. It covers any financial loss that the lender may incur in the event of a dispute against the property. The policy remains in effect as long as the loan is outstanding, and the lender has an interest in the property.
Lender’s title insurance is a valuable tool to protect lenders financially. However, the coverage does not extend to the buyer. We offer separate coverage to protect homeowners from potential title issues.
Standard Owner’s Title Insurance Policy
A standard owner’s title insurance policy is a type of title insurance that protects the owner of a property in the event of a claim against their ownership. It is the same protection as lender’s title insurance, but it extends to the buyer. This policy protects the owner’s investment in the property and covers any financial loss that may result from a title dispute or claim. This coverage is in effect for the entire duration of the buyer’s possession of the property, not just the life of the loan. This policy expands to inheriting the property or one serving as the trustee or beneficiary of the estate trust. The cost of standard owner’s title insurance is based on the purchase price of the home and is purchased at closing. This policy offers buyers comfort, knowing they are protected if faced with a claim.
Enhanced Owner’s Title Insurance Policy
An enhanced owner’s title insurance policy is a type of title insurance that provides additional coverage beyond that of a standard owner’s title insurance policy. This policy is designed to offer a higher level of protection to the property owner and covers a broader range of title-related issues.
An enhanced owner’s title insurance policy typically covers the same issues as a standard policy. However, it may also offer additional coverage for things like survey errors, zoning violations, or easement disputes. The cost of the policy is typically a one-time fee that is paid at closing, and the policy remains in effect as long as the owner retains an interest in the property. An enhanced owner’s title insurance policy is a good option for property owners who want additional protection.
Contact us for more information about enhanced owner’s title insurance or any of our other title coverage options. We can compare policies and find the best fit for your title needs.