Question: Do I need title insurance, when buying a new home in Utah? Answer: Construction of a new home raises special title problems for the lender and owner. You may think you are the first owner when constructing a home on a purchased lot. However, there...
Question: I’m refinancing, why do I need new title insurance? Answer: When you obtain a new loan, the lender will require title insurance. Even if you recently purchased your home, there are some problems that could arise with the title. For instance, you may have...
The Eagle Policy of Title Insurance The Eagle Policy provides more coverage than any previous policy offered. Some of the new coverages are completely new and never before offered by any title insurer. This policy includes the following coverage: Your Title is lost or taken because...
Question: What are some possible title problems covered by a standard Owner’s Title Policy? Fraud and Forgery Those involved in real estate fraud and forgery can be clever and persistent, which can spell trouble for your home purchase. In a western state, an innocent buyer...
Question: Why does my Warranty Deed say the purchase price is “Ten Dollars”? Answer: Utah is a non-disclosure state, which means you are not required to disclose the purchase price of your property. The wording put in the deed protects the confidentiality of the purchase...
Question: Why Buy Title Insurance? Answer: In order to issue title insurance, the title company must search public land records for matters affecting that title. Many search the “chain of title” back 50 years. Twenty-five percent of title searches find a title problem that is...
Question: Are there different types of title insurance? Answer: There are two basic types of title insurance: Lender’s title insurance, also called a Loan Policy, and Owner’s title insurance. Most lenders require a Loan Policy when they issue you a loan. The Loan Policy is...
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