Question 1

What does a title company do? Do I really need one?

Accepted Answer

While you don’t need one and you are not legally required to do so, having a title company on your side as you purchase real estate or refinance your property can be highly beneficial. Title companies provide title insurance after a thorough title search, draw up all the documents, handle the escrow account, facilitate the closing, record the signed documents and title, and so much more. At District Title, we provide many services to ensure a smooth and easy process - all the way through closing.

Question 2

What are the benefits of using a title company?

Accepted Answer

Title companies can offer many benefits. Perhaps one of the most important is title insurance. Without it, you could be leaving yourself at risk should any title defects arise.

Question 3

What is the difference between a lender’s title insurance policy and an owner’s policy?

Accepted Answer

A lender’s policy and an owner’s policy are two different types of title insurance. Although they are both created to protect any title defects, it is who they protect that is different. A lender’s policy protects the financial interest of the lender. It is good for the value of the mortgage, decreasing as the mortgage is paid or refinanced. Once the loan is satisfied, the lender’s policy will no longer be effective. An owner’s policy protects you - the new owner of the property. It ensures that should any unforeseen issues arise pertaining to the title of the property, you are protected financially and with a legal defense. This owner’s policy remains in effect as long as you have an interest in the property.

Question 4

Is title insurance required for buyers?

Accepted Answer

Title insurance is often required by lenders. They want you to purchase a lender’s policy to protect both their financial interest in the property as well as their lien position. As for your own protection with an owner’s title insurance policy, it is not required though highly recommended.

Question 5

Is title insurance necessary for a refinance?

Accepted Answer

Because a lender’s policy is good for the value of the loan, refinancing means purchasing another lender’s policy. This will be for the new loan amount and will, again, be in place until the loan is satisfied.

Question 6

What happens if I don’t have title insurance?

Accepted Answer

Not having title insurance can leave you vulnerable to defects in the title. These can include: Judgments and liens, Tax liens, Public records/recording errors, Encroachment with neighbors, Clerical errors or omissions, Easements, Conflicting wills, Fraud and/or forgery, Missing heirs. Should you face any of these issues (or similar situations) you may find yourself with a lot of headaches and a potentially costly battle.

Question 7

How can I learn more about District Title’s services?

Accepted Answer

If you are looking for a full-service title company that can offer you convenience and professionalism, as well as a smooth and efficient closing process, then look no further than District Title.

Welcome to District Title

Our Services

Benefits of Working with a Title Company

Why Choose District Title?

“Great experience - prompt, professional communication. They made signing easy.”