Title Insurance

TITLE INSURANCE AND THOMAS A. MOSELEY, CHARTERED

A key function of Thomas A. Moseley, Chartered is to provide you with title insurance, usually at the same cost as a title insurance company. Unlike us, a title insurance company is not ethically obligated to act in your best interest. As with any other insurance policy, the exceptions to coverage under your title insurance policy are the most important part of the policy to understand. If Thomas A. Moseley, Chartered provides the title insurance, we will make sure that only those exceptions that are absolutely necessary are included in the policy. If Thomas A. Moseley, Chartered does not provide the title insurance, we recommend that we review the closing documents and title insurance policy for unnecessary or dangerous exceptions.

If you are obtaining a mortgage, you will have to buy a lenders title insurance policy. This protects the lender against any title problems. But, to protect your interests you will need owner’s title insurance, too.

Owners title insurance protects you against “defects” in the title to your property. With title insurance, the insurer pays the costs if you are forced to defend your ownership and covers any financial loss if the title defects are unfixable.

OBVIOUS VS. HIDDEN DEFECTS

A search of the public records will disclose any “obvious” defects. There may also be “hidden” defects which may not surface even in the course of a thorough title examination such as lost or forged deeds, undisclosed heirs, incorrect legal descriptions and courthouse clerical errors. Title insurance can protect you against both “obvious” and “hidden” title defects.

KNOW THE EXCEPTIONS TO YOUR TITLE

Every title policy contains exceptions. If you do not have a real estate attorney you will not know anything about the exceptions, you will not know to object to them, and you will not get clarification about why they are necessary.