The Title Company

Title Insurance

The primary role of the title company is issuing an insurance policy or contract called Title Insurance. It protects you, the purchaser or owner, against a loss that may arise by reason of a defect in your ownership or an interest you have in real property. With the purchase or refinance of your home, you naturally want the assurance that your ownership is absolute and uncontested, both now and in the future.

The title insurance company agrees to defend you in court if there is an attack on your title. This will cover attorney and court expenses or pay a loss caused by the defect in title up to the faced amount of the policy subject to the terms listed in your policy.

Even though the public record of previous ownership is thoroughly examined for flaws or conflict, hidden or unforeseen problems may exist. Owner's Title Insurance protects the owner after the sale. Lender's Title Insurance protects the lender for the amount of the mortgage. Title Insurance can save you money, time, and trouble.

See also: Doesn't the Lender's Title Insurance protect me?

Title Search

The title to your home is the legal proof you own it. When a house is purchased, the property's history is reviewed by the title company to insure the previous owner's liens are not transfered to the new buyer at the time of sale. It also verifies the seller's right to transfer ownership.

The investigation will reveal liens, easements, judgments or other restrictions on the property. The mortgage lender, who shares your financial interest in the property, also requires this step. Once completed, title insurance can be issued for both the buyer and the lender.

See also: What if my attorney reviews the Title?

Options to Hold Title

Title to real property in California may be held by individuals, either Ownership or Co-ownership, with several variations.

See: Ways to Hold Title

Choosing a Title Company

When choosing your title company, start with several referrals from those you trust, family, friends, co-workers, and others who have recently had a satisfactory experience with a title company.

Consider a professional who is patient, exacting and willing to give you the time and information you need to understand escrow and title insurance, like those at Fidelity National Title. Title and escrow fees can vary. Ask for all escrow costs from title insurance and escrow service fees to all the little excess fees that come up in escrow.

What's the concept behind the Title Company?

Traditionally, Closings have been performed by attorneys, real estate firms, lending institutions or title insurance companies.

Fidelity National Title was created to provide title protection and settlement services to individuals and businesses. Because of this specialization, we are uniquely qualified to offer total service -- from contract to closing. Except for cases requiring legal counsel, we handle everything.

How much does Title Insurance cost?

Considering the degree of protection, a title policy is relatively inexpensive. The premium is paid just once, at Closing, for protection as long as you retain title, and beyond. Title insurance rates are set by the title insurance companies and your cost will be based on a factor of the title rate and the purchase price of your property (Owner's policy) and the loan amount (Lender's policy).

You may be entitled to a reduced title insurance premium. Please discuss whether you are eligible for a premium discount with your title insurance agent.

How does Fidelity Title Company save me money?

Because we combine the title search, title insurance and settlement services "under one roof," the resulting efficiency lets us charge less than most traditional sources. We are always happy to furnish you with a no-cost, no-obligation quote, in advance.

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