TITLE INSURANCE
We Protect Your Real Estate Assets
TITLE INSURANCE COVERS:
TITLE INSURANCE FOR PROPERTY OWNERS
Title insurance for property owners is usually issued in the amount of the real estate purchase price. It is purchased for a one-time fee at closing and is valid for as long as the owner (or beneficiaries) have an interest in the property. An Owner's Title Insurance policy protects the buyer should an issue arise with the title that was not discovered in the initial title search.
LENDER'S TITLE INSURANCE
Title insurance for mortgage lenders is called a Loan Policy. Most lenders require a Loan Policy when they issue a mortgage loan. The Loan Policy is usually based on the dollar amount of the loan and it protects the lender's interests in the property should a problem with the title arise. It does not protect the buyer. The policy amount decreases each year and eventually disappears as the loan is paid off.
Questions?
Speak with a Real Estate Lawyer
Todd W. Sivia
Attorney at Law
Sivia Business & Legal Services, P.C.
217 S. Main Street
Edwardsville, IL 62025
618-659-4499 - www.sivialaw.com
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P: (618) 654-7675
F: (618) 551-2604
info@midwestescrow.com
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