Explain how title insurance works. What risks does it cover? Who pays, and when? What common exceptions does it make?

Explain how title insurance works. What risks does it cover? Who pays, and when? What common exceptions does it make?

Solution: Title insurance protects an owner (or lender) from legal challenges or complications with title.  Title insurance protects a grantee (or mortgagee) against the legal costs of defending title, and again………

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If a grantee obtains title insurance, what value, if any, is there in the covenant of seizen in a warranty deed?

Solution: If a grantee has title insurance, the covenant of seizing remains an indication that the grantor rea…….

The use of Torrens certificates, never large in the S., has diminished in recent years. Explain how marketable title laws, recently adopted in many states, might have made Torrens certificates less interesting and useful.

Solution: The idea of a Torrens certificate was to eliminate the need for a search of historical public records to affirm chain of title.  Marketable title laws may have accomp…

Name at least six adverse (conflicting) claims to property or other title defects, that will not be evident from a search of property records but which might be detected by inspection of the property and its occupants.

Why might it be advisable to require a survey in purchasing a 20-year-old home in an urban subdivision?

Solution: A survey can be useful, even in a fairly recent subdivision, to affirm that fences are not encroaching