Most title insurance companies have affiliated business arrangements with realtors and lenders. This means that when your realtor or lender refers you to a particular title company, they may have an ownership interest in that particular title company. Your realtor or lender will end up getting part of the charges you pay to the title company. At NVA Title we do not have any affiliated business arrangements. Instead of having to pay realtors or lenders for the referral of business, we can offer the savings to our customers.
Lender's title insurance is a policy of insurance that protects your lender in case there are against loses resulting from defects in the title to your property. This policy does not protect you, the owner. Lender's title insurance will be required by your lender. Owner's title insurance is a policy of insurance that protects you, the owner, in the event that are any loses resulting from defects in the title to your property. Owner's title insurance is optional.
For most people the purchase of a house is the biggest investment they will make.It does not make since not to insure this investment from possible future claims against the title to the property. The following is a list of a few of the defects that title insurance protects against:
The premium you pay for title insurance is a one time premium paid at settlement which is based on the sales price and the loan amount.
NVA Title is an agent for Old Republic National Title Insurance Company, Stewart Title Guaranty Company and WFG National Title Insurance Company and issues all of its policies through one of these companies, each of which are national title insurance underwriters.
The premium for an enhanced policy is 20% higher and provides additional protections.
Some of the additional protections are: