Frequently Asked Questions
Please reach us at info@trustonetitlegroup.com if you cannot find an answer to your question.
The right to own real estate is one of the most precious of the freedoms we have in this country. Any property you may buy belongs to you, and other than your mortgage holder and certain restrictive covenants (i.e. easements and homeowner’s association restrictions), there should be no other claims against your home or restrictions on your ownership. Title insurance eliminates any risk and potential for losses caused by faults in title from events that may have occurred long before you purchased the property.
A lender’s policy protects the mortgage holder from risks associated with the title to a property. If there is a fault in title that results in a loss, the mortgage holder will be paid.
Protection from financial loss due to demands that may be charged against the title to your home, up to the value of the title policy. Payment of legal costs if the title insurer has to defend your title against a covered claim. Payment of successful claims against the title to your home covered by the policy, up to the value of the policy.
Once purchased, title insurance remains in effect for as long as you own your property.
Title insurance is different from other types of insurance in that it protects you, the insured, from a loss that may occur from matters or faults from the past. Other types of insurance such as auto, life, or health cover you against losses that may occur in the future. Title insurance does not protect against any future faults. A title insurance policy will protect you from risks that may arise because of faults or inaccuracies in the chain of title or undiscovered ownership interests in the property. Another difference is that you pay a one-time premium for title insurance. There are two principal forms of title insurance: The Lender’s Policy and The Owner’s Policy.
A title company makes sure that the title to a piece of real estate is legitimate and then issues title insurance for that property. Title insurance protects the lender and/or owner against lawsuits or claims against the property that result from disputes over the title. Title companies also often maintain escrow accounts — these contain the funds needed to close on the home — to ensure that this money is used only for settlement and closing costs, and may conduct the formal closing on the home. At the closing, a settlement agent from the title company will bring all the necessary documentation, explain it to the parties, collect closing costs and distribute monies. Finally, the title company will ensure that the new titles, deeds and other documents are filed with the appropriate entities.
Trust One Title Group promises peace of mind, and we deliver. Trust One Title Group is a title insurance and escrow company that focuses on providing its clients and customers with the highest levels of communication, expert title solutions and creative closing options. With an unmatched level of professionalism, genuine caring and the ability to creatively resolve even the most challenging issues, Trust One Title Group has earned a reputation for high quality and outstanding service.
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