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What Our Customers Are Saying.
Don’t just take it from us, let our customers do the talking!
Assured Abstract is one of the most reliable title companies that I have worked with. They are very responsive to inquiries, provided the title report to me without delay, and, most importantly, clear the file to close in a very timely manner. Hope Ruby has also been a great point of contact; she continually ensures that I have all the resource I need in order to provide the best service to the prospective purchaser. In an industry where the majority of the heavy lifting is based on the level of service, the service provided by Assured Abstracts is, by far, the best I have seen. I look forward to having many more transactions with Assured Abstracts.
Since the first time I’ve used Assured, I haven’t looked back. Yes, every title company will tell you that they give you personalized service, but Assured backs it up. I’ve been able to hand them closings and the experience has been seamless. Can’t recommend them enough.
I have been a real estate lawyer for 34 years closing New York City deals. Personal service is the key to easing the burdens. Assured does it, with aplomb, alacrity and elegance and eases all my closing efforts, commercial, residential, fee or leasehold.
Frequently Asked Questions
What Is Title Insurance?
A Title Insurance Policy is a contract that protects a consumer against losses arising through defects in the title to the real estate. The Title Insurance Company agrees to provide the owner and mortgage holder a legal defense of the title if a claim arises.
Do I Need Title Insurance?
Purchasing real estate is probably the biggest investment you will ever make. With that in mind, you will probably want to insure it not only to protect it from fire and theft but also from title defects that may allow someone else to hold a claim to your property.
It is possible for prior owners and other entities to hold both legitimate and illegitimate claims against your property. Problems with the title can limit your use of the property and could lead to a financial loss. The security interest of your mortgage lender can be put at risk as well. Title insurance protects you and your mortgage company from potential risks associated with defects in title.
What is a title examination, or title search?
It’s a close examination of all public records that involve title (deed) to a piece of real estate. The person conducting the search looks at past deeds, wills, and trusts to make sure the title has passed correctly to each new owner. The examiner tries to verify that all prior mortgages, judgments, and other liens have been paid in full. A title search should uncover potential problems, such as rights others may hold (right of ways, view easements, power line easements, mineral rights), claims by prior undisclosed heirs, and pending legal actions.
What if title problems are found after closing?
When you file bankruptcy, an automatic stay goes into effect. The automatic stay prohibits virtually all creditors from taking any action to collect the debts you owe them unless the bankruptcy court lifts the stay and lets the creditor proceed with collections.
- The policy will pay your legal fees if you must go to court to defend your deed.
- If you lose the property the insurance should pay you for the loss up to the amount of the policy.
Who pays for title insurance?
You do, unless your state requires the home seller to pay. Even if it’s not required home buyers can ask the seller to pay for the policy. Buyers may be able to save money on the title search and policy if the present owner’s policy can be updated and reissued. Ask your closing agent if that’s possible.