Give a brief explanation about the Title Insurance & Search

richosasimohan · Joined: 18 Jul 2007 Posts: 38 23.01 Dollars($)

Give a brief explanation about the Title Insurance & Search, Explain about the products available in Title search like limited search.

blue · Posted: Wed Jul 18, 2007 11:38 am Post subject:

Hi Richosasimohan,

Welcome to Mortgagefit discussion board.

Title insurance protects a lender or an owner from financial loss which might occur because of title defects. Title insurance is important for lender as it safe guards him from title defects on the property kept as collateral for the mortgage.

You can go through this page for more information on title insurance: http://www.mortgagefit.com/title-insurance.html

Do let me know if you have any other questions.

Thanks
Blue

Guest 0.10 Dollars($)

Title search is done to examine the public records to make sure that seller is the legal owner of the concerned property & to find out if there are any claims against the property.

carnahandavid · Joined: 21 Dec 2006 Posts: 239 58.40 Dollars($)

Normally you find 2 types of title searches, these are, full coverage and limited coverage search.

A full coverage title search includes property lien search, search for covenants, conditions and restrictions, resolutions, ordinances and agreements which affect the property in question. On the other hand limited coverage search does not include many of the searches done in a full coverage search. It only includes property lien search and search for liens against the owner.

This page explains the title search process, please have a look: http://www.mortgagefit.com/title-search.html

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