Frequently Asked Questions
Why is title insurance important?
Many people ask this question. We're a member of the American Land Title Association and they've succinctly answered this question for you here; http://www.homeclosing101.org/. Basically, title insurance is a policy to protect you against loss, if previous agreements are unsatisfied by former owners.
What is a title?
A title is the owner's right to legally possess and use property. It allows transfer of ownership.
What is a title search?
The purpose of a title search is to verify the property owner's rights to sell or finance the property. Title searches help discover claims or defects to property. It is a detailed history of all public records that can affect property, including deeds, mortgages, court records, property and name indexes, taxes and more.
What is a HUD (HUD - 1) Settlement Statement
A HUD - 1 is a summary of the financial portion of your real estate transaction. This lists the purchase prices, loan amount, and closing costs for sellers and buyers. It will also reveal pro-rations and payment to be disbursed by the title company to all parties.
What are some of the common title issues you can help resolve?
Often people don't understand that when property is purchased, previous restrictions, covenants, easements or a number of other scenarios transfer with ownership. Land Title does the leg work and research so you know your property rights. The title search reveals unpaid taxes, unsatisfied mortgages, judgments against the property owner and restrictions of use.
How does title insurance protect my investment if a claim should arise?
Title insurance protects you, in accordance with the policy, if a claim is made against your property. If a claim is valid, you will be reimbursed for your actual loss up to the amount of the policy, including paying court costs and related fees.
Why should we do business with you?
When you do business with Land Title, you are our primary concern. Our job is to make your transaction a smooth transaction. Plus, we're locally owned and operated. That translates to a team that is here for you in the long run. Finally, we take pride in supporting our local community by giving time and donations to a variety of causes. We carefully select organizations that greatly impact our community. A few examples: Twin County United Way, Lewiston-Clarkston Habitat for Humanity, Lewis-Clark State College and the list goes on. If being a viable part of our community is important to you, we're definitely a good fit for you!