Title Insurance

Stay on Course with Concourse!

Concourse Land Transfer

Stay on Course with Concourse!

Concourse Land Transfer

What is title insurance?

Real estate has traditionally been a family’s most valuable asset. It is a form of wealth that is protected by many laws. These laws have been enacted to protect one’s ownership of real estate and the improvements located on the land. The owner, the owner’s family, and the owner’s heirs may have rights or claims in and to the property that you are buying. Those who may have an interest in or lien upon the property could be governmental bodies, contractors, lenders, judgment creditors, the Internal Revenue Service, or various other individuals or corporations. The real estate may be sold to you without the knowledge of the party having a right or claim in and to the property. In addition, you may purchase the real estate without having any knowledge of these rights or claims. In either event, these rights or claims remain attached to the title to the property that you are buying until they are extinguished.

The Past Can Determine Your Future

Generally, a person thinks of insurance in terms of the payment of future loss due to the occurrence of some future event. For instance, a party obtains automobile insurance in order to pay for future loss occasioned by a future “fender bender” or for the future theft of the car. Title insurance is a unique form of insurance. It provides coverage for future claims or future losses due to title defects which are created by some past event (i.e., event prior to the acquisition of the property.) These risks are far less obvious than those protected against by automobile insurance, but can be just as devastating. The following information will answer some commonly asked questions about title insurance.

Concourse Land Transfer
Concourse Land Transfer
How Does Concourse Find Out What Title Risks Exist?
In order to determine the status of title, Concourse Land Transfer conducts a diligent search of the public records for those documents associated with the property. Concourse then examines those recorded documents in order to determine if there are any rights or claims that may have an impact upon the title to the property. The title search may reveal the existence of recorded defects, liens or encumbrances upon the title such as unpaid taxes, unsatisfied mortgages, judgments and tax liens against the current or past owners, easements, restrictions and court actions. Matters that are discovered in the search can be accepted, resolved or extinguished prior to the closing of the transaction. In addition, you are protected against any loss or damage resulting from recorded defects, liens or encumbrances that are within the scope of coverage of the particular policy issued in the transaction.
Concourse Land Transfer
What About Hidden Title Risks?
The title to the property that you have purchased could be seriously threatened or lost completely by hazards which are considered “hidden risks.” “Hidden Risks” are those matters, rights or claims that are not shown by the public records and, therefore, are not discoverable by a search and examination of those public records. Matters such as forgery, incompetency or incapacity of the parties, fraudulent impersonation, and unknown errors in the records are examples of “hidden risks” which could provide a basis for a claim after you have purchased the property. The policies issued by Concourse Land Transfer protect you against many of these “hidden risks.”
Concourse Land Transfer
In the event of a covered matter affecting your title, your insurance policy may protect you in various ways including: (1) Defending your title, (2) Bearing the cost of settling the covered matter, or (3) Paying you for the loss due to the covered matter.
Only One Premium
Unlike other forms of insurance, the original premium is your only cost as long as you own the property. There are no annual payments to keep your Owner’s Title Insurance Policy in force.
Concourse Land Transfer

What is title insurance?

Real estate has traditionally been a family’s most valuable asset. It is a form of wealth that is protected by many laws. These laws have been enacted to protect one’s ownership of real estate and the improvements located on the land. The owner, the owner’s family, and the owner’s heirs may have rights or claims in and to the property that you are buying. Those who may have an interest in or lien upon the property could be governmental bodies, contractors, lenders, judgment creditors, the Internal Revenue Service, or various other individuals or corporations. The real estate may be sold to you without the knowledge of the party having a right or claim in and to the property. In addition, you may purchase the real estate without having any knowledge of these rights or claims. In either event, these rights or claims remain attached to the title to the property that you are buying until they are extinguished.

Concourse Land Transfer

The Past Can Determine Your Future

Generally, a person thinks of insurance in terms of the payment of future loss due to the occurrence of some future event. For instance, a party obtains automobile insurance in order to pay for future loss occasioned by a future “fender bender” or for the future theft of the car. Title insurance is a unique form of insurance. It provides coverage for future claims or future losses due to title defects which are created by some past event (i.e., event prior to the acquisition of the property.) These risks are far less obvious than those protected against by automobile insurance, but can be just as devastating. The following information will answer some commonly asked questions about title insurance.

Concourse Land Transfer

How Does Concourse Find Out What Title Risks Exist?

In order to determine the status of title, Concourse Land Transfer conducts a diligent search of the public records for those documents associated with the property. Concourse then examines those recorded documents in order to determine if there are any rights or claims that may have an impact upon the title to the property. The title search may reveal the existence of recorded defects, liens or encumbrances upon the title such as unpaid taxes, unsatisfied mortgages, judgments and tax liens against the current or past owners, easements, restrictions and court actions. Matters that are discovered in the search can be accepted, resolved or extinguished prior to the closing of the transaction. In addition, you are protected against any loss or damage resulting from recorded defects, liens or encumbrances that are within the scope of coverage of the particular policy issued in the transaction.

Concourse Land Transfer

What About Hidden Title Risks?

The title to the property that you have purchased could be seriously threatened or lost completely by hazards which are considered “hidden risks.” “Hidden Risks” are those matters, rights or claims that are not shown by the public records and, therefore, are not discoverable by a search and examination of those public records. Matters such as forgery, incompetency or incapacity of the parties, fraudulent impersonation, and unknown errors in the records are examples of “hidden risks” which could provide a basis for a claim after you have purchased the property. The policies issued by Concourse Land Transfer protect you against many of these “hidden risks.”

Concourse Land Transfer

In the event of a covered matter affecting your title, your insurance policy may protect you in various ways including: (1) Defending your title, (2) Bearing the cost of settling the covered matter, or (3) Paying you for the loss due to the covered matter.

Only One Premium

Unlike other forms of insurance, the original premium is your only cost as long as you own the property. There are no annual payments to keep your Owner’s Title Insurance Policy in force.

Try as we might, even the most skilled title professional may not find all problems associated with a property.

Some risks, such as filing errors, forgeries, or undisclosed heirs, are difficult to identify. The title insurance policy, both owner’s and lender’s protects your home from these issues which could cost hundreds of thousands of dollars to remediate.

Services
Concourse Land Transfer - Residential Title Insurance

Residential Title Insurance

Live with peace of mind knowing your residential title is properly secured.

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Concourse Land Transfer - Commercial Title Insurance
Commercial
Title Insurance

Leverage our experience and expertise from the easy to the most complicated commercial title needs.

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Concourse Land Transfer - Settlement Services

Settlement
Services

We take great pride in our high level of service to provide a smooth settlement experience.

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Concourse Land Transfer - Professional Services

Professional
Services

We have all of the experience so that closings are quick and accurate for every transaction.

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Concourse Land Transfer
National Lender Services
We continue to grow our national footprint with licenses in nearly 30 states and counting.

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Concourse Land Transfer - National Lender Services

National Lender Services

We continue to grow our national footprint with licenses in nearly 30 states and counting.

Learn More