Great Oak Title Services, LLC




title insurance

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Title Insurance
Want to calculate the cost of title insurance?  please see calculator at the bottom of the page

There are two types of title insurance: Lender’s Coverage (required in most financing) and Owner’s Coverage.

Lender’s Coverage insures only the Lender’s interest against title defects.  This coverage decreases over time as the Loan is paid off and ends when the loan is fully paid off and discharged.  It protects the Lender in case the Lender becomes the owner of the property upon foreclosure.

Owner’s Coverage is intended to protect you – the property owner – from defects in title that could have significant impact on your interest in the property and its marketability. Even a minor defect in title can cost much more to correct than the cost of the Owner’s Title Insurance.  With Owner’s insurance a one-time premium is paid when you purchase your property which protects you from title defects for as long as you own the property.  And in many cases, even after you have sold it.  Furthermore, the value increases 10% each year for the first 5 years of ownership.  The title insurer will defend claims at no cost to you.

Why buy owners title insurance?
Hidden risks are potential title problems, which even the most scrupulous examination by the most experienced team of title search professionals may not uncover until months or even years after a property is sold. The end result can be loss of property, costly lawsuits and, of course, delayed closings.  For far, far less than costly lawsuits & legal advice, Owner’s Title Insurance is your best protection – forever – against the unforeseen.

Examples of Hidden Risks:
  • Clerical errors made at the Registry of Deeds
  • Forged deeds, mortgage releases or other forged documents
  • Deeds made by persons of unsound mind
  • Deeds made by minors
  • Falsification of records
  • Previously undisclosed heirs of previous owners
  • Improper legal description recorded
  • An expired power of attorney used when executing a deed
  • Title taken as a result of an improperly probated will
  • False representation of the true owner of the property
  • Improperly indexed liens on a property, undiscoverable by a diligent search​

CONTACT US
4 Greenleaf Woods Dr.
Unit 302
Portsmouth, NH 03801
PHONE (
603) 232-4241
FAX (866) 232-1277

[email protected]


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Title Insurance Calculator:
http://www.caticulator.com
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