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How many years do Insurance Companies go back to check for Title on Property as to ownes it?
Wiki User
∙ 16y ago
If the coverage is for a refinance, typically the search is only on the current owner from the time they purchased the property through current date. For a purchase, it varies from state to state. Some states search 20 years prior owner, in other states I have seen it searched as far back as 60 years. Other states go by the transfer of deeds (prior owners). Check with your local title agency to see what is typical for your area.
Wiki User
∙ 16y ago
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Where can you get a title insurance primer for New York State?
Title insurance is regulated in NY by their Department of Banking and Insurance. Check out their website at: ins.state.ny.us Go on the website of any of the larger title companies or their local agents. They usually have an FAQ section explaining title insurance and what it covers.
What insurance companies insure vehicles whit a salvage title?
The following insurance companies are known to insure vehicles with a salvage title: Nationwide Esurance Progressive Allstate State Farm The General GeicoHowever you should always double-check with your insurance provider that they are willing to insure a vehicle with a salvage title before making a purchase.
Where can I look to find the history of my house?
You should check the real property records of the county where your house is located. These records can be examined for free at the county courthouse. Title companies also have land archives and may be able to sell you a title report: check with title companies in your county for details.
Can I still be covered under my parent's insurance and purchase a car in my name?
Generally, the owner of the car must be the one to insure it. If there is a loss, the check for the insurance company payoff will go to the owner of the property. However, some companies offer family discounts.Generally, the owner of the car must be the one to insure it. If there is a loss, the check for the insurance company payoff will go to the owner of the property. However, some companies offer family discounts.Generally, the owner of the car must be the one to insure it. If there is a loss, the check for the insurance company payoff will go to the owner of the property. However, some companies offer family discounts.Generally, the owner of the car must be the one to insure it. If there is a loss, the check for the insurance company payoff will go to the owner of the property. However, some companies offer family discounts.
Where does one look into residential landlord insurance?
After putting care into maintaining your rental property one will want to make sure that they have residential landlord insurance. Two insurance companies to check out landlord insurance would be Safeco and Allstate.
How do you check on a title?
Property-A title co. can do a title search. It's fairly routine.
What type of checks does a title insurance company perform?
In the state of California for example, the title company runs a check on the seller/sellers of a property in the county in which the property is and also on the property itself. This is done to find out who is on title to the property, any judgements, or liens that may be recorded against the property or the seller/sellers of the property, any and all open deeds of trusts, status of property taxes. The title company also reports any easements that effect the property, copies of the C.C.R's are also included as part of their reporting. This report is called a Preliminary Title Report.
Which companies provide check auto insurance?
There are several different companies that provide check auto insurance. Some of these include: B&W Auto Insurance, Canadian Direct Auto Insurance, and Progressive.
How can you find liens on real estate?
You would need to have a title insurance company issue a title report on the property. That would tell you of any liens or other issues with the property's title. You can check yourself (by using the records at your county courthouse) but you might want the security of knowing that a title report issued by a bona fide title company is guaranteed to be accurate.
If property is unoccupied could a claim be rejected?
Most insurance companies will not insure a vacant home. There are provisions depending on how ling you have been out of the home. Check your policy.
Will your insurance company pay if 2 names are on the title?
Yes, Your insurance will still pay. However any payment for property losses will be made out to both owners requiring that both sign the check before cashing.
What is the difference between a title search and title insurance?
The more appropriate term is title examination.A title examination is a comprehensive examination of the public land records to determine the ownership of a property, whether there are any outstanding liens or encumbrances on the property, whether any other entity has rights in the property, and to discover whether there are any issues or defects that need to be resolved prior to the purchase of a property. In order for a person to sell their property they must be able to transfer "marketable title" to a property. Marketable title is free from encumbrances that would cause a reasonable purchaser to not purchase the property. When you purchase a home, a title company or attorney's office will hire a professional to examine the record title to the property to determine whether any issues need to be resolved prior to transferring title. For example, in Massachusetts title examiners are required to research back in the public records for a period of 50 years to look for liens, easements, and problems with the title. Other states have similar requirements.But what if something that was not apparent in a title examination at the time of the purchase surfaces after someone purchases a property? These latent defects in title cost people time, money and potentially the right to use and occupy their home. Title insurance insures exactly this situation.There are two types of title insurance. First, there is lender's title insurance. Lender's title insurance protects the lender's right to title (i.e. a mortgagor's right to first lien position on the property) and is required for most mortgages and loans encumbering real property. As it is protecting a loan the premium amount is based upon the amount of the loan. This type of insurance only protects the lender's interest in the property NOT the homeowner's. If there is a defect in title that is uncovered after a homeowner purchases a home, the lender's policy will not protect their interests.The second type of title insurance is Owner's Title Insurance. This is a policy of title insurance that protects the homeowner's interest in the property. The premium amount is based upon the purchase price of the home. It is a one time fee that protects the homeowner for as long as they own the property. If a problem arises, the title insurance company will pay to defend your right to title or to fix the problem. If the problem cannot be fixed, the title insurance company will pay any monetary losses incurred by the homeowner.Common title problems are: mistakes in registry records or improperly indexed documents, errors on deeds commonly in the parties or descriptions, improperly or un-discharged mortgages, and undisclosed heirs. These problems are real and do occur fairly often.As with any type of insurance there are exceptions to coverage. You should check with a title insurance agent before purchasing a policy and, as always, if you are purchasing real estate you should consult with a real estate attorney prior to putting in an offer.
