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Insurance Title Policy

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Icon Mini Profile mcusack13





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Post Posted: Tue Jul 24, 2007 4:58 pm    Post subject: Insurance Title Policy
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In the event of an inter-spousal transfer or a Quick Claim Deed, whereby an unmarried women grants Title to the property to herself and her husband as grantees, what is the effect on the owners title insurance policy, will the coveraged afforded under the policy extend to the grantee in this instance?
Icon Mini Profile kenstampe
kenstampe
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Post Posted: Tue Jul 24, 2007 5:31 pm    Post subject:
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Typically not. The insurance is usually rendered invalid upon change of vesting or transfer of title. Check with the title company who issued the policy to be 100% certain.
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Icon Mini Profile miller_st
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Post Posted: Tue Jul 24, 2007 5:56 pm    Post subject:
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I too think you will have take out a new policy after title ownership is changed. But do inquire with the insurance company to know what policy they have in such situations.

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Icon Mini Profile sara
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Post Posted: Tue Jul 24, 2007 9:38 pm    Post subject: RE: quitclaim invalidates title insurance
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Welcome back ken,

good to see you here again.

Ya, one may have to purchase a new title insurance policy as the transfer of property trough quitclaim deed is likely to invalidate his insurance policy.

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