We currently serve 66 counties in Idaho and Montana with each of our offices employing local people. In addition to our local focus, we are dedicated to being a regional solution for settlement services. Our expert sales staff, coupled with state of the art technology, allows us to create a suite of services tailored to your specific needs. Title Insurance is used by Homebuyers and Lenders for protection against delinquent taxes, undisclosed liens, legal judgments, forgeries, fraud, and a host of other potential legal or financial problems that can arise when purchasing or refinancing property.
Escrow means any agreement between two or more parties wherein the delivery of instruments, monies, items of value, or evidence of title to real or personal property is placed with a neutral third party.
This agreement contains specific written instructions executed by all parties to the transaction. The Exchange is quite possibly the most powerful investment tool available to property owners. A Exchange allows you to defer the tax and increase your purchasing power by keeping your equity intact. A Long Term Escrow is an arrangement in which an unbiased third party holds legal documents and according to written instructions from the Buyer and Seller accepts and distributes payments.
You may be able to get estimates for other closing services at the same time. It can also provide a cash settlement to a new owner who unwittingly purchases a property with a forged deed from a fraudulent seller who did not actually own the home. It protects against issues that might have affected your decision to purchase the property had you known about them at the time. The lender will then file a claim with its title insurance company to recoup the mortgage payments it was expecting to get from you.
Under other circumstances where you stopped paying your mortgage, the lender could foreclose and recoup its losses from selling the home. Amy Fontinelle is a leading personal finance expert with nearly 15 years of experience.
Select Region. United States. United Kingdom. Amy Fontinelle, Mike Cetera. Contributor, Editor. Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but that doesn't affect our editors' opinions or evaluations. What Is Title Insurance? For example, if there are utility lines in your backyard, the utility company will have an easement that allows them to access your property if they need to work on the lines.
The easement could limit your ability to use your property however you want. Title Insurance Costs Title insurance is a one-time, up-front fee—not an ongoing expense. Is Title Insurance Required? Was this article helpful? Share your feedback. Send feedback to the editorial team. Rate this Article. Thank You for your feedback!
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