Understanding title insurance: Title to a property is a record detailing the owners of the property and rights associated with the ownership. Title typically shows a progression of ownership from the first owner to the current one. Title is a fairly simple concept, but when it goes wrong it is a nightmare. That is where title insurance comes in. Title insurance guarantees that the title on a property is marketable when one purchases the home, condo, land, etc.

What's in a title search: A title search is a means of determining that the person who is selling the property really has the right to sell it, and that the buyer is getting all the rights to the property (title) that he or she is paying for. The search process can be undertaken by the title company in those jurisdictions where the company maintains offices. In most real estate transactions today a title insurance policy is purchased to assure the buyer that he or she has purchased a valid title. In those transactions where title insurance is involved, the title company must determine insurability of the title as part of the search process. 

What every Buyer and Seller should know about title insurance: Most home sellers and buyers have been informed that obtaining title insurance will provide them necessary protection over possible title defects; but many remain uncertain about why this is so - or even about what title insurance is. At Live Oak Title, LLC, we believe we have everything to gain by throwing some light on the subject. 

An Overview of Easements: Title insurance is generally - associated with insuring a purchaser's or lender's interest in a particular piece of real estate. The right to use an easement is often considered less important than unencumbered title of the insured parcel. An easement, however, can significantly affect the value of the insured parcel.

(RESPA) The Real Estate Settlement Procedures Act: The Real Estate Settlement Procedures Act (RESPA) is a consumer protection statute, first passed in 1974. One of its purposes is to help consumers become better shoppers for settlement services. Another purpose is to eliminate kickbacks and referral fees that increase unnecessarily the costs of certain settlement services. RESPA requires that borrowers receive disclosures at various times. Some disclosures spell out the costs associated with the settlement, outline lender servicing and escrow account practices and describe business relationships between settlement service providers.

Mortgage Loan Closing Costs: Closing costs for home refinancing or purchases are often misunderstood and frustrating for the buyer and seller (who is probably very soon going to be a buyer). Closing costs are assessed once a purchase agreement is finalized with the seller and/or their agent. The various costs will vary by county, state and lending institution. However, there are a number of fairly standard closing costs that the authors will discuss and explain so that one will not be taken for a ride the next time he or she purchases or refinances his or her loan.

Title Insurance - Examples of Problems and Advise:  Title insurance prevents the property owner from suffering financial loss if, at any time during his ownership of the property, someone comes along who can show that they have full, or partial, ownership of the property instead. Every mortgage lender requires title insurance to be purchased to cover the amount of the mortgage. They're not in business to lose money.