| Premier Title Company, Inc. |
| (340) 776-0777 (340) 776-8664 fax |
An important part of title insurance is its emphasis on risk elimination before
insuring. This gives you, as the policyholder, the best possible chance for
avoiding title claim and loss.
Title insuring begins with a search of public land records affecting the real estate
concerned. An examination is conducted by the title agent or attorney on behalf of
its underwriter to determine whether the property is insurable. The examination of
evidence from a search is intended to fully report all "material objections" to the
title. Frequently, documents that don't clearly transfer title are found in the "chain",
or history that is assembled from the records in a search.
Here are some examples of documents that can present concerns:
- Deeds, wills and trusts that contain improper wording or incorrect names
- Outstanding mortgages and judgments, or a lien against the property
because the seller has not paid his taxes
- Easements that allow construction of a road or utility line
- Pending legal action against the property that could affect a purchaser
- Incorrect notary acknowledgments
Through the search and the examination, title problems are disclosed so they can
be corrected whenever possible. However, even the most careful preventative
work cannot locate all hidden title hazards.
Hidden Title Hazards - your last defense
In spite of all the expertise and dedication that go into a title search and
examination, hidden hazards can emerge after closing, resulting in unpleasant
and costly surprises. Some examples of hazards include:
A forged signature on the deed, which would mean no transfer of ownership to you
An unknown heir of a previous owner who is claiming ownership of the property
Instruments executed under an expired or a fabricated power of attorney
Mistakes in the public records
Title insurance offers financial protection against these and other covered title
hazards. The title insurer will pay for defending against an attack on title as
insured, and will either perfect the title or pay valid claims all for a one-time
charge at closing.
Your home is your most important investment. Before you go to closing, ask about
your title insurance protection, and be sure to protect your home with an owner's
title insurance policy.
| A Division of Kevin F. D'Amour, P.C. |
| What Does My Premium Really Pay For? |
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| Time Center Building 4600 Estate Charlotte Amalie St. Thomas, U.S. Virgin Islands 00802-3405 |
| Recipient of the Stewart Title 2006 "Leading Agent" Award |