Posts Tagged ‘home title insurance’

How Title Insurance Protects You From Missing Heirs

Friday, January 3rd, 2014

While many property transactions go smoothly, issues can arise in seemingly unlikely scenarios that become all too real once the situation has been clarified. One example of this kind of situation is the problem of a missing heir.

Say a single homeowner sells his house. He has a son whom he has not heard from for many years and has no idea what became of him. The son finds out about the transaction and returns, claiming an interest in the property. Because he is an heir to his father’s interests, he does have a right to a share of the value of the property. Without title insurance, this would create an expensive problem for the buyers. But with the protection of title insurance, the title company would settle this claim, and the buyers would not have to pay for the son’s interest in the property.

 

Baltimore home title insurance

 

American Home Title Group has been helping Marylanders with their title needs for over 25 years. In the ever-volatile real estate industry, a company’s longevity can be attributed to the quality of its work. With more than 120 years of experience in real estate and titles, American Home Title Group is your Baltimore title company ready to provide you with the best experience possible in every capacity.

To get you started on the way to titling your home, try our free title settlement quote program here. You can fill it out for a free, no obligation title quote. It’s easy and fast so you’ll have the information you need in seconds. Contact us for more information about our title and other real estate services.

As your Baltimore title company, American Home Title Group is ready to assist you today with a variety of real estate needs you may have. Contact us now to begin your home titling process. Our phone number is 410-750-8500. To reach us via email, please send a message to info@americanhometitlegroup.com. Follow our blog and keep up with us on Google+, Facebook, and Twitter.

Source

http://www.homeclosing101.org/whyneed.cfm#claim

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How to Find Out if You Have Title Insurance

Tuesday, December 24th, 2013

Let’s say you’re a property owner, but you’re unsure if you purchased title insurance when you purchased your property. How would you go about finding out if you had title insurance? It’s actually a very simple process. All you have to do is review the settlement statement, known as HUD-1, which was provided to you at the closing. The settlement statement itemizes receipts and disbursements, of which title insurance is one. Charges for your title insurance policy would be listed on line 1110 of a standard HUD-1. If you have title insurance, the relevant information will be listed here. If you want to contact your home title company, a quick online search should produce some contact information.

 

home title insurance

 

American Home Title Group has been helping Marylanders with their title needs for over 25 years. In the ever-volatile real estate industry, a company’s longevity can be attributed to the quality of its work. With more than 120 years of experience in real estate and titles, American Home Title Group is your Baltimore title company ready to provide you with the best experience possible in every capacity.

To get you started on the way to titling your home, try our free title settlement quote program here. You can fill it out for a free, no obligation title quote. It’s easy and fast so you’ll have the information you need in seconds. Contact us for more information about our title and other real estate services.

As your Baltimore title company, American Home Title Group is ready to assist you today with a variety of real estate needs you may have. Contact us now to begin your home titling process. Our phone number is 410-750-8500. To reach us via email, please send a message to info@americanhometitlegroup.com. Follow our blog and keep up with us on Google+, Facebook, and Twitter.

Source

http://www.homeclosing101.org/whyneed.cfm#claim

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Do I Need Title Insurance on a Newly-Built Home?

Friday, December 6th, 2013

When you’re the first to build a home on a lot that was previously empty, it might seem like you don’t need title insurance, as there was no house their before yours. However, even though you were the first to build a house on the lot, the unimproved land may have changed hands several times before it came to you. Title searches can uncover any liens on the property.

 

Where could a lien on an improved property come from? One possible scenario is that a previous owner and builder intended to improve the property, but didn’t pay the subcontractors and suppliers. As a result, the subcontractors and suppliers could have placed a lien on the property. While you may not have been aware of this when you bought the property, a lender won’t finance your mortgage unless the title is clear. Another possibility is that there was a house on the lot at one time, but it was destroyed by a natural disaster, or removed by man-made means.

 

Lenders also want to verify that they are insuring the correct property. The boundaries of unimproved properties may have become fuzzy over time, which could result in disputes with property owners who share borders with your property. A survey can determine the correct bounds of the property, which will allow the lender to insure the correct property.

 

In summary, even if the property you’re building on is unimproved, you will need title insurance, as the property likely had one or more previous owners.

 

title insurance newly built home

 

 

American Home Title Group has been helping Marylanders with their title needs for over 25 years. In the ever-volatile real estate industry, a company’s longevity can be attributed to the quality of its work. With more than 120 years of experience in real estate and titles, American Home Title Group is your Baltimore title company ready to provide you with the best experience possible in every capacity.

To get you started on the way to titling your home, try our free title settlement quote program here. You can fill it out for a free, no obligation title quote. It’s easy and fast so you’ll have the information you need in seconds. Contact us for more information about our title and other real estate services.

As your Baltimore title company, American Home Title Group is ready to assist you today with a variety of real estate needs you may have. Contact us now to begin your home titling process. Our phone number is 410-750-8500. To reach us via email, please send a message to info@americanhometitlegroup.com. Follow our blog and keep up with us on Google+, Facebook, and Twitter.

 Source

http://www.homeclosing101.org/whyneed.cfm

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Your Home Title Insurance Rights in Maryland

Thursday, November 21st, 2013

It’s important to know your rights with regards to title insurance in Maryland. What are your rights when it comes to settlements and title insurance? Below is The Title Insurance Consumer’s Bill of Rights from the Maryland Real Estate Commission, which covers all of your rights as the consumer in the process.

 

Nine Things You Should Know Before Signing a Contract of Sale or Refinancing Your Property

 

  1. You have the right to choose your settlement agent and title insurer.
  2. You have the right to receive settlement cost information early in the real estate settlement process, allowing you to shop for the settlement services that best meet your needs.
  3. You have the right to receive an itemized settlement statement from the settlement agent detailing all fees paid to the settlement agent before you agree to use that settlement agent.
  4. You have the right to be informed about the total cost being paid by you to the settlement agent.
  5. You have the right to ask and receive accurate information from your settlement agent about whether there is a ground rent, lien, judgment, or any other impediment to outright ownership of the property.
  6. You have the RIGHT to request and receive from your settlement agent the Settlement Statement (HUD-1) the business day before the date of settlement.
  7. You have the right, before you sign, to ask the settlement agent questions and receive clear and complete answers about charges and documents that you do not understand.
  8. You have the right to receive copies from the settlement agent of all documents you signed at the time of closing.
  9. You have the right to have all funds disbursed timely and properly by the settlement agent in accordance with the Settlement Statement (HUD-1) you signed at closing.

 

Source: The Real Estate Settlement Procedures Act (RESPA) of 1974, 12 U.S.C.§ 2601 et seq.

 

Keep these rights in mind when choosing a settlement agent and title insurer. More information is available here.

 

 

 

home title insurance rights

 

 

 

American Home Title Group has been helping Marylanders with their title needs for over 25 years. In the ever-volatile real estate industry, a company’s longevity can be attributed to the quality of its work. With more than 120 years of experience in real estate and titles, American Home Title Group is your Baltimore title company ready to provide you with the best experience possible in every capacity.

To get you started on the way to titling your home, try our free title settlement quote program here. You can fill it out for a free, no obligation title quote. It’s easy and fast so you’ll have the information you need in seconds. Contact us for more information about our title and other real estate services.

As your Baltimore title company, American Home Title Group is ready to assist you today with a variety of real estate needs you may have. Contact us now to begin your home titling process. Our phone number is 410-750-8500. To reach us via email, please send a message to info@americanhometitlegroup.com. Follow our blog and keep up with us on Google+, Facebook, and Twitter.

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The Importance of Title Insurance

Thursday, November 7th, 2013

American Home Title Group can help you avoid legal potential problems with our extensive experience in the business. We’ll make sure your home is properly titled and insured, which is important for several reasons. Here’s one of them.

 

One example of real estate fraud is when a seller assumes the identity of a property owner and tries to sell the property. Let’s say you own a property in Baltimore but live in California, and haven’t visited Baltimore in some time. In this example from Home Closing 101, someone could easily look up the public records of Baltimore properties with out of town owners who have owned the properties for a long period of time. It would be easy to determine that they weren’t living there currently, and to forge the proper deeds, assume the property owner’s identity and sell the property to a buyer. Title insurance would protect you from this kind of real estate fraud, and ensure that the property remained in your hands.

 

home sales

 

American Home Title Group has been helping Marylanders with their title needs for over 25 years. In the ever-volatile real estate industry, a company’s longevity can be attributed to the quality of its work. With more than 120 years of experience in real estate and titles, American Home Title Group is your Howard County title company ready to provide you with the best experience possible in every capacity.

To get you started on the way to titling your home, try our free title settlement quote program here. You can fill it out for a free, no obligation title quote. It’s easy and fast so you’ll have the information you need in seconds. Contact us for more information about our title and other real estate services.

As your Howard County title company, American Home Title Group is ready to assist you today with a variety of real estate needs you may have. Contact us now to begin your home titling process. Our phone number is 410-750-8500. To reach us via email, please send a message to info@americanhometitlegroup.com. Follow our blog and keep up with us on Google+, Facebook, and Twitter.

 

Source

 

http://www.homeclosing101.org/whyneed.cfm

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What Is Title Insurance?

Thursday, August 15th, 2013

Title insurance is part of the closing costs of buying a home that is sometimes unanticipated. However, it could prove to be a huge benefit to you in future. Here’s why.

home title insurance

Title insurance covers you in the event that any prior ownership of the property comes into question. This is because a title itself is not a physical piece of paper, it is a record of all previous ownerships and liens of the property. The deed on the other hand, is a physical document.

 

So why might you need insurance on something that doesn’t even physically exist? When you sign a contract to buy a house, the next step in the process involves pulling the records for the property and verifying that all previous lien and ownership documentation that have been filed are valid. The county recorder only verifies documents, he or she does not verify their validity.

 

Therefore, if any questionable documentation arises (e.g. if any liens are found to be invalid or if anyone who claimed to own the property was not actually a titleholder) during this period after you sign the contract called the title search, the burden of any payment (if required) will be on the insurance company and not you, if you have title insurance. If you do not have title insurance it will come out of your own pocket. While costs vary depending on the situation, this is an expense that many homeowners do not want to incur, and it can be easily avoided by having title insurance.

 

American Home Title Group has been helping Marylanders with their title needs for over 25 years. In the ever-volatile real estate industry, a company’s longevity can be attributed to the quality of its work. With more than 120 years of experience in real estate and titles, American Home Title Group is ready to provide you with the best experience possible in every capacity.

 

American Home Title Group is ready to assist you today with a variety of real estate needs you may have. Contact us now to get started. Our phone number is 410-750-8500. To reach us via email, please send a message to info@americanhometitlegroup.com. Follow our blog and keep up with us on Google+, Facebook, and Twitter.

Source

http://www.tele-management.ca/2013/07/home-buyer-questions-what-is-title-insurance-and-is-it-worth-it/

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