Serving Jasper County, Indiana

... Since 1928.

Support & FAQ

Questions You Should Ask Before you Purchase

There are some extremely important questions you should ask before considering your new real estate purchase. Questions like, "Why am I securing TITLE INSURANCE before proceeding with my purchase?". Even more obvious, "What is Title Insurance, and how will it protect me?".

Also, as you move forward with the process of your property purchase, you may have noticed that your Real Estate Agent, or LENDER may have already selected, or is recommending a specific TITLE COMPANY.

STOP . . . And ask yourself why?

However, realize that YOU may make the decision of which TITLE COMPANY you TRUST. You've most likely researched and selected your auto insurance company, decided on choice of medical insurance. You've even picked the company that provides your current home owners insurance.

Consider the potential LOSS that could happen, or the additional EXPENSE that you will incur because of errors and problems encountered during the purchase of your new property. Why wouldn't you make the decision of which TITLE COMPANY you'll TRUST to handle your Real Estate transaction?

What is Title Insurance ?

TITLE INSUANCE is protection against LOSS. These losses can arise because of problems connected with the title to your real property (real estate). Title Insurance protects YOU and your interest in real property, easements, leases, or life estates, a lender's financial interest, etc. against loss due to TITLE DEFECTS, LIENS or other LEGAL matters.

Title Insurance Order Form

Why do I Need Title Insurance ?

Prior to title insurance, buyers of real property were responsible for making sure their transaction was valid and not fraudulent, otherwise they could lose their investment. Later, Abstracts of Title and Continuations of Title (a condensed history of title to a particular parcel of real estate taken from the public records) and an attorney's opinion were issued to protect the interest of the new buyer or the lender.

Legal ownership is not always crystal clear. Missing records, tax liens, estates, divorces, foreclosures and other matters can result in legitimate claims to the title of your real property. Therefore, it is of utmost importance for you to insure your investment by purchasing title insurance.

A lender gets a Mortgage/Loan Title Policy which protects the lender's interest in the real property should a claim against the title arise, and said Mortgage Policy expires when the mortgage is paid off or released of record.

A Mortgage/Loan Title Policy DOES NOT PROTECT YOU,similarly, the prior Owner's Title Policy does not protect you.

If you want to protect yourself from claims by Others against your new home, you will need an Owner's Title Policy to insure you.

If an Owner/Purchaser gets an Owner's Title Insurance Policy which assures that they are taking title to a parcel of real property free of all liens, defects and encumbrances, except those listed as exceptions in the policy or are excluded from the scope of the policy's coverage.

Liability limits of an owner's title poicy is usually the purchase price of the property or a fair market value of the property.

What does Title Insurance Protect Against ?

Title Insurance protects against a variety of hidden defects,

such as, but not limited to: old_records

Errors or Omissions in Deeds

Mistakes in Examining Records

Conflicting Wills

Undisclosed Heirs

Rights of Divorced Parties

Unpaid Taxes

Unmarketable Title

Lack of Legal Right Access

Gaps in the Chain of Title

Defective Acknowledgments due to Improper or Expired Notarization


Judgement Liens

Deeds by Minors

Defective Foreclosures of Mortgage

These and other hidden defects can result in a claim being made against

your real property. Make sure you protect your investment with a Title Insurance Policy.

How does Title Insurance Differ from Other Types of Insurance ?

Title Insurance protects you, the insured, from loss that may occur from matters or defects from the past through the effective date of the title policy. Title Insurance does NOT protect against defects that may originate after said title policies effective date.

Other types of insurance such as auto,life and health etc. cover you against losses that may occur in the future.

What is Escrow ?

Escrow is a transaction whereby a third party carries out instructions of the seller and buyer according to the terms of a signed Purchase Agreement.

When are Preimums Due for the Payment of Title Insurance ?

There is a one-time premium which is paid at the closing of escrow. It is customary for the seller to pay for the Owner's Policy and if there is a new loan then the buyer generally pays for the Mortgage Title Policy.

Terms of Use | Privacy Statement

©2015 Jasper County Abstract Co., Inc. All rights reserved.
Maintained and Hosted by iCloudServicesUSA