Imagine: You find the perfect piece of property to purchase - your dream home, land to build on, or commercial real estate. You pay the seller, they give you a deed, you record it at the courthouse, and you’re done! You own the property. Or so you think. A month later the real owner of the property comes forward and says “This is my house/land!”. What do you do? That’s where Title Insurance comes in. There are MANY issues that can affect title to real estate, and we specialize in looking for, finding, and addressing these issues, such as unknown heirs, deaths, and prior spouses, just to name a few.
Title Insurance is your contract of indemnity - or, promise to pay or take action if there is a claim. Title Insurance protects you and your lender if someone challenges the title to your property. Normally, Lenders require a Title Insurance Policy for themselves, but it is optional for the Owner/Purchaser to get one and can be rejected in writing. We always recommend an Owner’s Title Policy in every applicable transaction. Why not be protected? Title Insurance is a one-time payment to insure that you enjoy your property for years to come.
The process is simple: you turn in your contract for the sale/purchase of real estate to us, we search the County Clerk’s Records to find the chain of title (paper trail of “who has sold to who”), and present the information we have found in the form of a Commitment for Title Insurance. Once we have a clear to close from the lender, if there is one, and any issues found have been addresses properly, we schedule your closing - a date and time for all parties to come in and sign documents. All necessary documents are recorded at the County Courthouse (ex: Warranty Deed, any Corrective Instruments, etc.) and your Owner’s Title Policy should be mailed to you within 30 days of closing.
Commitment for Title Insurance:
There are 4 different sections labeled Schedule A, B, C, and D. The buyer/proposed insured and sales price, the Lender and loan amount, persons in title (sellers), and legal description are shown on Schedule A of our Commitment for Title Insurance. Schedule B contains any exceptions from coverage, including all standard items and anything found in our search that we cannot insure based on our Underwriter guidelines. Schedule C shows items that are issues and need to be fixed before closing - we call this “curative,” and we do assist in working through these issues. Items found and put in Schedule C are the issues that would negatively affect the title to your property had they not been dealt with. Lastly, Schedule D discloses your Title Insurance Premium including any required endorsements, so you know exactly what you are paying for your policy.
Cost of Title Insurance:
The Texas Department of Insurance sets the Title Insurance rates, not title companies, and they are based on the sales price and loan amounts. We are happy to give you an estimate for your transaction, all you have to do is call! You can also visit the Texas Department of Insurance website - https://www.tdi.texas.gov/title/titlerates2013.html
Appraisal District - http://www.matagorda-cad.org/
County Clerk - http://www.co.matagorda.tx.us/page/matagorda.County.Clerk
Appraisal District - http://www.brazoriacad.org/
County Clerk - https://brazoriacountytx-web.tylerhost.net/recorder/content
Fort Bend County:
Appraisal District - https://fbcad.org/
County Clerk - https://www.fortbendcountytx.gov/government/departments/administration-of-justice/county-clerk
*Please note, we are not nor do we act as attorneys, and nothing we say or do should be misconstrued as legal advice. In some cases, an attorney is necessary to develop cures to title issues.