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News & Information
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What is title insurance?
Title insurance is a means by which the purchaser of a piece of real estate can assure themselves that they are obtaining clear title to the property and will not have to pay additional sums in the future in the form of unreleased judicial liens, taxes or mortgages.
posted by: charlson & wilson
updated: March 16, 2001
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How does Title Insurance work?
Prior to the buyer closing on the purchase of real property, a search of the county records pertaining to that property is completed by a licensed title company so that any outstading mortgages, judgment liens, tax liens, etc., can be found and set forth on the title insurance commitment, alerting the buyer and the escrow agency involved in the sale as to what items need to be taken care of prior to or at the time of closing. Judgment lien can include liens for the payment of past due child support or maintenance/alimony, a judgment agaist the seller pursuant to a court action, or a mechanics lien, among others. Tax liens can include liens against the seller or the property taxes, employment taxes, income taxes, etc.
posted by: charlson & wilson
updated: March 16, 2001
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