An owner of real property
whose interest is insured by an owner's title insurance policy has the
assurance that the title will be marketable when selling the property.
The title insurance policy protects the seller from financial damage if
the seller's title is found to have defects from a prior owner.
The purchaser of real estate
needs protection against serious financial loss due to a defect in the
title to the property purchased. For a single, one-time premium, a buyer
can receive the protection of a title insurance policy - a policy that
is backed by the reserves and solvency of the Company. A title insurance
policy will cover both claims arising out of title problems that could
have been discovered in the public records, and those so-called "non-record"
defects that could not be discovered in the record, even with the most
Real Estate Broker /Agent
The title insurance company
and the real estate agent or broker both want to ensure that as many real
estate transaction as possible are closed to the satisfaction of all the
principals. For the real estate broker, the efficient and safe transfer
of title will result in client trust and fulfillment, which could led to
Apart from the security that
title insurance offers, most brokers have experienced numerous instances
in which title insurance personnel have enabled them to close transactions
that otherwise would have been delayed. By helping to avoid delays, Quality
Title & Escrow is able to facilitate the job of the real estate broker
and to minimize the inconveniences and costs to the homebuyer.
Lender / Bank
A policy of title insurance
provides a mortgage lender with a high degree of safety against the loss
of security as a result of a title problem. This protection remains in
effect for as long as the mortgage remains unsatisfied.
Home Builder / Developer
By providing various title
insurance services and information to the home builder, the title insurance
industry can and does assist the builder in identifying and evaluating
building and use restrictions, easements, etc., in removing title problems
that may arise, and in facilitating prompt and needed disbursement of construction
funds from the construction lender. All of these services ultimately rebound
to the benefit of the buyers of newly constructed homes.