FAQs
Questions
- How can there be a title defect if the title has been searched and a loan policy issued?
- Common ways a person can lose title to his/her home:
- How is title insurance paid for?
- What does title insurance cost?
- Is there a limit to how long insurance will last?
Answers
A.
Title insurance is issued after a careful examination of copies of the public record. Even the most thorough search cannot absolutely assure that no title hazards are present. In addition to matters shown by public record, other title problems may exist that cannot be disclosed in a search.
A.
Mistakes in recording legal documents.
False impersonation of the true owner of the property.
Undisclosed or missing heirs.
Instruments executed under invalid or expired power of attorney.
Deeds or persons of unsound mind.
Deeds by minors.
Deeds by person supposedly singe, but in fact married.
Liens for unpaid estate, inheritance, income or gift taxes.
Fraud.
Misinterpretation of wills.
False impersonation of the true owner of the property.
Undisclosed or missing heirs.
Instruments executed under invalid or expired power of attorney.
Deeds or persons of unsound mind.
Deeds by minors.
Deeds by person supposedly singe, but in fact married.
Liens for unpaid estate, inheritance, income or gift taxes.
Fraud.
Misinterpretation of wills.
A.
Title insurance is paid in one lump sum when the home is purchased.
A.
The cost of title insurance varies from state to state.
It is regulated in most states, including Ohio.
It is regulated in most states, including Ohio.
A.
Yes. Title insurance lasts as long as the home is owned by the same owner.
