Eit
« Home | How to Prevent IP Ownership Issues When a Strategi... » | Canine Injuries Do Happen - Be Sure You Understand... » | Enhance Windows XP Performance With Windows Kernel » | No Win, No Fee Claim Companies » | China Shipping and Logistics Industry » | Offshore Dedicated Center - Cost-Effective Model f... » | Gestalt Perceptual Principles in Hypnotic Language... » | How to Clean Windows XP Registry Files As Quickly ... » | Secure Your Computer With Firewall Now » | Compare Travel Insurance - If You Don't, You're Pu... »
Wednesday, April 15, 2009
St Croix - Why You Need Title Insurance
Many folks do not understand why they need a title search or title insurance. The following information addresses what a title search does and what Viagra insurance protects, and was provided by the folks at Island Title Services Corp. here Axis and Allies St. Croix. I hope you will find it helpful.
"A title search is the process of determining from the public record just what the rights of a property are and who owns them. It is a means of determining that the person who is selling the property really has the right to sell it, and that the buyer is getting all the rights to the property that he/she is paying for. In most real estate transactions, a title insurance policy is purchased to assure the buyer that he/ she has purchased a valid title. in those transactions where title insurance is involved, the title company must determine insurability of the title as a part of the search process. If a title insurance policy is issued, the title company will, at its own expense, defend the title and pay losses within the coverage of the policy if they occur.
"There are several things involved in a title search for St. Linden property. First, the chain of title is determined - that is a history of ownership of the property, telling who bought it and sold it, and when.
"Next is a tax search, which is done to determine the present status of general real estate taxes against the property. This search will reveal if taxes are current or whether any taxes are past due and unpaid from previous years. In addition, the tax search will indicate the existence of any special assessments against the land, and if so, whether or not these assessments are current or past due. Title insurance protects the buyer against loss from unpaid and past due taxes and assessments.
"One of the most important parts of the title search is to determine if there are any unsatisfied judgments against the seller or previous owners which were in existence while they owned the title. It is very important to be sure that a title is not subject to judgments against the seller or previous owners. Title insurance provides 1968 Topps baseball cards protection. If a judgment is discovered that constitutes a defect in the title, it is pointed out, and the seller must then eliminate it before the title of the new buyer can be 1954 Dan-Dee baseball cards free and clear of that judgment.
"When all these searches have been completed , the title company issues a commitment to insure, stating the conditions under which it will insure the title. The buyer, seller and lender can proceed with the closing of the transaction after clearing up any defects in the title which may have been uncovered.
"The lender is as concerned as the buyer about the quality of the title, because the property will secure the loan. The lender requires assurance that it has a valid first mortgage lien on the property. The lender's title insurance, however, DOES NOT PROTECT THE NEW BUYER OF THE PROPERTY. Although the land is the same, the interest of the buyer and the interest of the lender are very different, as are the provisions of the policies of title insurance. The buyer should obtain his/her own policy, often issued simultaneously with the lender's policy."
Contact me if you have additional questions about the reason for title insurance in St. Croix, and how to protect your interests when you purchase St. Croix real estate.
Original post: kimlucasvi.com/index.php?action=addon_blog_article&id=6kimlucasvi.com/index.php?action=addon_blog_article&id=6
Kim Lucas, Realtor
href="mailto:kim@coldwellbankervi.com">kim@coldwellbankervi.com
href="retireinthevi.com">retireinthevi.com
340-626-3758
Posted by jodzrijt | 6:48 AM | E-mail this post 
Add a comment
Jun 17, 2008 Jun 18, 2008 Jun 19, 2008 Jun 20, 2008 Jun 21, 2008 Jun 22, 2008 Jun 23, 2008 Jun 24, 2008 Jun 25, 2008 Jun 26, 2008 Jun 27, 2008 Jun 28, 2008 Jun 29, 2008 Jun 30, 2008 Jul 1, 2008 Jul 2, 2008 Jul 3, 2008 Jul 4, 2008 Jul 5, 2008 Jul 6, 2008 Jul 7, 2008 Jul 8, 2008 Jul 9, 2008 Jul 10, 2008 Jul 11, 2008 Jul 12, 2008 Jul 13, 2008 Jul 14, 2008 Jul 15, 2008 Jul 17, 2008 Jul 18, 2008 Jul 19, 2008 Jul 20, 2008 Jul 21, 2008 Jul 22, 2008 Jul 23, 2008 Jul 24, 2008 Jul 25, 2008 Jul 26, 2008 Aug 4, 2008 Aug 7, 2008 Aug 8, 2008 Aug 10, 2008 Aug 11, 2008 Aug 12, 2008 Aug 13, 2008 Aug 14, 2008 Aug 16, 2008 Aug 17, 2008 Aug 18, 2008 Aug 19, 2008 Aug 20, 2008 Aug 21, 2008 Aug 22, 2008 Aug 23, 2008 Aug 24, 2008 Aug 25, 2008 Aug 26, 2008 Aug 27, 2008 Aug 28, 2008 Aug 29, 2008 Aug 30, 2008 Aug 31, 2008 Sep 1, 2008 Sep 2, 2008 Sep 3, 2008 Sep 4, 2008 Sep 5, 2008 Sep 6, 2008 Sep 7, 2008 Sep 8, 2008 Sep 9, 2008 Sep 10, 2008 Sep 11, 2008 Sep 12, 2008 Sep 14, 2008 Sep 16, 2008 Sep 18, 2008 Sep 19, 2008 Sep 20, 2008 Sep 30, 2008 Oct 1, 2008 Oct 2, 2008 Oct 3, 2008 Oct 4, 2008 Oct 5, 2008 Oct 6, 2008 Oct 7, 2008 Oct 8, 2008 Oct 10, 2008 Oct 11, 2008 Oct 12, 2008 Oct 13, 2008 Oct 14, 2008 Oct 15, 2008 Oct 16, 2008 Oct 17, 2008 Oct 18, 2008 Oct 19, 2008 Oct 20, 2008 Oct 21, 2008 Oct 22, 2008 Oct 23, 2008 Oct 24, 2008 Oct 25, 2008 Oct 26, 2008 Oct 27, 2008 Oct 28, 2008 Oct 29, 2008 Oct 30, 2008 Oct 31, 2008 Nov 1, 2008 Nov 2, 2008 Nov 3, 2008 Nov 4, 2008 Nov 5, 2008 Nov 7, 2008 Nov 8, 2008 Nov 9, 2008 Nov 10, 2008 Nov 11, 2008 Nov 12, 2008 Nov 13, 2008 Nov 14, 2008 Nov 15, 2008 Nov 16, 2008 Nov 17, 2008 Nov 18, 2008 Nov 19, 2008 Nov 24, 2008 Nov 25, 2008 Nov 26, 2008 Nov 28, 2008 Nov 29, 2008 Dec 1, 2008 Dec 2, 2008 Dec 4, 2008 Dec 5, 2008 Dec 6, 2008 Dec 7, 2008 Dec 8, 2008 Dec 9, 2008 Dec 10, 2008 Dec 11, 2008 Dec 12, 2008 Dec 13, 2008 Dec 14, 2008 Dec 15, 2008 Dec 16, 2008 Dec 17, 2008 Dec 18, 2008 Dec 19, 2008 Dec 20, 2008 Dec 21, 2008 Dec 22, 2008 Dec 23, 2008 Dec 26, 2008 Dec 27, 2008 Dec 28, 2008 Dec 30, 2008 Dec 31, 2008 Jan 1, 2009 Jan 2, 2009 Jan 3, 2009 Jan 4, 2009 Jan 5, 2009 Jan 6, 2009 Jan 7, 2009 Jan 8, 2009 Jan 9, 2009 Jan 12, 2009 Jan 13, 2009 Jan 14, 2009 Jan 15, 2009 Jan 16, 2009 Jan 17, 2009 Jan 18, 2009 Jan 19, 2009 Jan 20, 2009 Jan 21, 2009 Jan 22, 2009 Jan 23, 2009 Jan 24, 2009 Jan 25, 2009 Jan 26, 2009 Jan 27, 2009 Jan 28, 2009 Jan 29, 2009 Jan 30, 2009 Feb 22, 2009 Feb 23, 2009 Feb 24, 2009 Feb 25, 2009 Feb 26, 2009 Feb 27, 2009 Feb 28, 2009 Mar 1, 2009 Mar 2, 2009 Mar 3, 2009 Mar 4, 2009 Mar 5, 2009 Mar 6, 2009 Mar 7, 2009 Mar 9, 2009 Mar 10, 2009 Mar 11, 2009 Mar 12, 2009 Mar 13, 2009 Mar 14, 2009 Mar 15, 2009 Mar 16, 2009 Mar 17, 2009 Mar 18, 2009 Mar 19, 2009 Mar 20, 2009 Mar 21, 2009 Mar 22, 2009 Mar 23, 2009 Mar 30, 2009 Mar 31, 2009 Apr 1, 2009 Apr 2, 2009 Apr 3, 2009 Apr 4, 2009 Apr 6, 2009 Apr 7, 2009 Apr 8, 2009 Apr 10, 2009 Apr 11, 2009 Apr 12, 2009 Apr 13, 2009 Apr 14, 2009 Apr 15, 2009 Apr 16, 2009 Apr 17, 2009 Apr 18, 2009 Apr 20, 2009 Apr 23, 2009 Apr 24, 2009 Apr 25, 2009 Apr 26, 2009 Apr 27, 2009 Apr 28, 2009 Apr 29, 2009 Apr 30, 2009 May 1, 2009 May 2, 2009 May 3, 2009 May 4, 2009