We have been in the title business for more than 20 years. We know that getting a search right is only a part of what we owe each client; it's also our responsibility to make the process predictable, even enjoyable.
So what is title insurance? Title Insurance protects what is likely to be the largest and most important financial endeavor of your life. A Title is evidence that an individual has possession of a piece of land. However, it is possible that a person or entity other than the owner has a legal right to the property. If that right is established by that person or entity, then they can claim possession of that property outright or demand use of some or all of the land.
Two types of Title Insurance policies exist: Lender's Policy and Owner's Policy. A Lender's Policy, typically required by the Lender, insures that the financial institution has a valid lien on the property. An Owner's Policy is built to ensure that the owner is protected from errors or pending legal issues that were in existence prior to the issuance of the new policy.
In real estate, the closing of a sale is the culmination of countless hours of work; too often deals fall through at this final hour for all the wrong reasons. Small issues grow too big to overcome, and sink the deal, because the details were mismanaged.
At Reli, we've seen it happen and we've learned how to plan ahead and address these small issues when they can be resolved quickly and accurately. It's all part of the Reli experience - we are committed to making the process of closing a transaction predictable and even enjoyable. Our experienced closing staff is committed to making the process as remarkable as the speed and accuracy of our work.
Being prepared is the best way to ensure your closing goes smoothly. To help you prepare for your closing, we've compiled some tips we've learned over the past 20 years in the business.
Reports typically include legal description, current property tax information, deed, status of all mortgages, judgments and federal tax liens.