Resources
Find helpful documents, videos and FAQ's
Filter By Topic
Showing: All Resources
FAQ's
- Title insurance protects you (as the owner) or your lender (in the case of a loan policy) from financial losses due to problems with the title to a property.
- It covers potential issues that arise before you purchase the property, but were not known at the time of purchase.
- Common problems include liens, encumbrances, or other issues that could affect your ability to own or sell the property.
- Owner's Policy: Protects the homeowner against losses due to title defects, and covers you and your heirs for as long as you own the property.
- Lender's Policy (also called Mortgage Policy): Protects the lender (mortgage company) against losses due to title defects, and is usually required by lenders.
Owner's Policy:
- Liens (mortgages, unpaid taxes, HOA fees, etc.)
- Fraud or forgery in the title records
- Unknown heirs or claims to the property
- Boundary disputes
- Unmarketable title (making it difficult to sell the property)
Lender's Policy:
- Similar coverage to owner's policy, but protects the lender's investment
- Owner's Policy: Lasts as long as you (or your heirs) own the property.
- Lender's Policy: Lasts as long as the loan is outstanding.
- For the Homeowner: While not always mandatory, it's a good idea to consider it, especially when financing your purchase, as it protects your investment.
- For the Lender: Most mortgage lenders require it to protect their investment.
- A title search is a process where a title company examines public records to identify any potential issues with the title to a property.
- This includes looking for liens, encumbrances, or other claims against the property.
- A title commitment is a document issued by a title company that outlines the terms and conditions under which they are willing to issue a title insurance policy.
- It lists the property's ownership history, liens, encumbrances, and other matters that may affect the title.
- Your realtor, lender, or title agent can walk you through the details for your particular sale, but in general, these transactions take a similar format. The buyer, seller, lenders, and any other associated agents or representatives meet at a scheduled time.
- All parties sign required paperwork and deeds and mortgages are exchanged. All funds are disbursed, including down payments, closing costs, title insurance, and any other required fees.
- Per the Indiana Good Funds law, which went into effect July 1, 2009, provides that disbursements of certain escrow account funds must be made from wired funds or if the aggregate funds received by a party are less than $10,000, other good funds. This means that any amount we are to receive that is over $10,000 must be received via a wire transfer, any amount between $9,999.00 and $501.00 must be a cashiers or certified check and any amount under $500 may be a personal check.
Videos
Wiring VS Cashiers Check
4 Minutes
Resource Links
Seller Impersonation Fraud
Learn to identify red flags and safeguard your property from fraudsters.
Title Insurance Protection
Shield your property from hidden risks with owner's title insurance.
Fraud Prevention Guide
Verify sellers. secure transactions, and prevent real estate scams.