Understanding title services

When you purchase a home, the title will be transferred to you at the closing table, making you the rightful owner of the home. Prior to closing, Edina Realty Title employees search all public records to determine your property’s potential title risks. However, properties can have complicated histories of ownership, so you can purchase title insurance to protect against hidden claims on the property or claims that the title is invalid.

In short, when you order title services from Edina Realty Title, you are really paying for added peace of mind.

Lender’s title vs. owner’s title

When you buy a home, your lender will require you to buy lender’s title insurance. This policy protects the lender’s interest in your property.

To protect yourself against title risk, you have the option to purchase a separate policy called owner’s title insurance. This policy is purchased at closing for a one-time fee based on the price you paid for your home. The owner’s policy will pay for all court costs and related fees of any covered title risk. If a claim is found valid, you are covered up to the face value of the policy.

Examples of title risk

By purchasing owner’s title insurance from Edina Realty Title, you are protected from the following hidden risks, which may not be disclosed during the public records search:

• An undisclosed heir with ownership in the title
• An improperly signed, sealed, acknowledged or delivered document
• False impersonation of property ownership, including forged deeds, releases or wills
• Lack of competency, capacity or legal authority of a party
• No legal right of access to and from the land, or limited use of the land
• A lien on your title due to a prior unsatisfied mortgage
• A lien on your title due to a charge from a homeowner’s association
• Other defects, liens or encumbrances