Frequently Asked Questions
Title insurance is a type of protection for people buying a home. Imagine it as a safety net that guards you against problems with the property’s ownership history.
When you buy a house, you expect that the seller has the full right to sell it to you. However, sometimes there are hidden issues from the past that might not show up during the usual checks. These issues can include:
- Unpaid taxes or bills of prior owners
- Mistakes in public records
- Unknown heirs who claim they own the property
- Liens (claims) against the property due to unpaid debts
- Fraud or forgery, such as fake signatures on documents
- In Michigan, because of its unique history and property laws, these kinds of hidden problems can occur.
Title insurance protects you by covering financial losses if any of these issues arise after you purchase the home. It also helps pay for legal fees if you need to defend your ownership in court.
You pay for title insurance only once at the closing of the sale, and it continues to protect you as long as you own the property. This gives you peace of mind, knowing that your investment is safe from unexpected claims or legal troubles related to the property’s past.
A property’s title is a legal concept representing who owns a piece of real estate. It tells you who the current owner is and if anyone else has claims or rights to the property, like mortgages or liens. In Michigan, the title also includes the history of past owners and important documents affecting the property. Having a clear title means there are no hidden problems that could challenge who owns the property. Before buying or selling, it’s important to check the title to make sure the transaction is safe and that ownership can be transferred without issues.
A deed is a legal document that is used to transfer title from one party to another. In Michigan, when property is bought or sold, the deed is recorded with the county Register of Deeds to officially document the change in ownership and protect the new owner’s rights.
We strive to deliver title commitments within 3 to 5 business days, depending on the complexity of the transaction and the county involved. We prioritize efficiency without compromising accuracy.
Owner’s Title Insurance
- Who it protects: You, the homebuyer.
- Purpose: It safeguards your financial investment in the property. If someone challenges your ownership after you buy the home—due to issues like unpaid taxes, liens, undiscovered heirs, or mistakes in the records—this insurance helps cover legal fees and any financial losses.
- Duration: You pay for it once at closing, and it protects you for as long as you own the property.
- Why it’s important: It gives you peace of mind knowing that your ownership is secure, and you won’t be caught off guard by hidden problems from the past.
Lender’s Title Insurance
- Who it protects: Your mortgage lender.
- Purpose: It protects the lender’s financial interest in the property. If title issues arise that could affect the lender’s ability to recover the loan amount (for example, if there was a foreclosure due to undiscovered title defects), this insurance covers the lender’s losses.
- Duration: It lasts until the mortgage is paid off.
- Why it’s important: Lenders require this insurance to minimize their risk when providing you a loan.
We manage escrow by acting as a neutral third party. We handle all funds, documents, and disbursements, ensuring a smooth and secure closing process for all parties.
If a title issue is found, we work quickly to resolve it, whether it involves clearing liens, correcting errors in documentation, or addressing other disputes. Our team is experienced in resolving title challenges in Michigan to keep the closing on track.
The seller typically pays for title insurance policies in Michigan, but it may vary depending on your negotiations and the specific location of the property. It is important to consult your title agent and check the purchase contract to determine who is responsible for title.
Yes, we specialize in Michigan real estate and are highly familiar with the state’s laws, regulations, and customs. Our team of experienced professionals, including attorneys and brokers, understands Michigan’s unique real estate landscape. This expertise ensures your transactions comply with state requirements, local practices, and recording standards. We navigate Michigan’s transfer taxes, environmental regulations, and local ordinances, preventing delays or issues. By choosing us, you benefit from our dedicated focus on Michigan, allowing us to handle your title and escrow needs efficiently and accurately, providing peace of mind throughout your transaction.
Placing an order is easy. You can contact us directly by phone, email, or through our online portal. We’ll gather the necessary information and start the process immediately.
We believe in proactive communication. We keep all parties informed at every key milestone, ensuring a smooth, transparent process from start to finish. If there are issues or requirements that have the potential to delay closing, we will inform everyone immediately so that they can be resolved without holding up the process.
We distinguish ourselves through our founding team’s extensive experience as attorneys, brokers, and real estate investors. Having worked at major title underwriters, we bring deep industry knowledge and insights to every transaction. We possess a deep understanding of the Michigan real estate market, enabling us to navigate its unique complexities effectively. Above all, we pride ourselves on providing the best possible experience to every client, no matter how big or small. Our commitment to exceptional service ensures personalized attention and support throughout the closing process.
We specialize in residential transactions in Michigan, but are also equipped to handle smaller commercial real estate deals. We also maintain a network of partners for deals that we believe our clients would be better served by a title company that specializes in their asset type.
Our fees are competitive and vary depending on the complexity of the transaction and what is required. We are transparent with our pricing and provide estimates upfront, so there are no surprises for your clients.
Still have questions?
If you have any other questions or need further information, don’t hesitate to contact us. We are here to help you!
