{"id":1809,"date":"2021-05-18T06:34:46","date_gmt":"2021-05-18T06:34:46","guid":{"rendered":"https:\/\/nuworldtitle.com\/?page_id=1809"},"modified":"2021-06-08T10:20:37","modified_gmt":"2021-06-08T10:20:37","slug":"faqs","status":"publish","type":"page","link":"https:\/\/nuworldtitle.com\/faqs\/","title":{"rendered":"FAQs"},"content":{"rendered":"\t\t
Not necessarily. There are two types of Title Insurance. Your lender likely will require that you purchase a Lender\u2019s Policy. This policy only insures that the financial institution has a valid, enforceable lien on the property. Most lenders require this type of insurance, and typically require the borrower to pay for it.<\/p>
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An Owner\u2019s Policy on the other hand is designed to protect you from title defects that existed prior to the issue date of your policy. Title troubles, such as improper estate proceedings or pending legal action, could put your equity at serious risk. If a valid claim is filed, in addition to financial loss up to the face amount of the policy, your owner\u2019s title policy covers the full cost of any legal defense of your title.<\/p><\/div>\n <\/div>
You will want to have these items complete or in hand when you come to the closing (please confirm with your escrow officer prior to closing):<\/p>\n
Buyer<\/strong> Seller<\/strong>
\nBuyer’s copy of purchase agreement
\nCashier’s check for amount needed to close
\nProof of purchase of insurance for fire, casualty, etc.
\nPhoto identification (passport, driver’s license, or state-issued identification card)<\/p>\n
\nSeller’s copy of purchase agreement
\nAny unrecorded instruments that affect the title
\nProof of satisfaction of any mechanics’ liens, chattel mortgages, judgments, or mortgages that were paid prior to the closing
\nPhoto identification (passport, driver’s license, or state-issued identification card)<\/p><\/div>\n <\/div><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t