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Owners Title Insurance protects the purchaser of real estate property from any claims brought against the property by those that have a legal claim recorded in the public records in the county where the property is located.

There are hundreds of possible title claims that can affect a property. Some examples would be, judgments against prior owners, unpaid mortgages, mechanic liens, unpaid taxes, federal tax liens, city and county liens, defective deeds, and the list goes on and on. These claims must be recorded in the public records where the property is located for the claims to attach to the real estate property.

Yes, any claim not recorded in the public records in the county where the property is located is generally not insured in the Owners Title Insurance Policy but does in fact affect the real estate property. Some examples of unrecorded claims may include unpaid utilities, open permits, code enforcement violations, municipal liens, special assessments, and building violations. Therefore, it is highly recommended that the purchaser order/obtain a Municipal City Lien Search conducted by a licensed and insured municipal lien search company.

Other unrecorded liens are possible if the property is subject to us. First Financial Plus contacts the association to obtain a written statement of the property’s status. The statement discloses any outstanding association fees, special assessments penalties, and violations that can also affect the property in which the seller would be required to satisfy at closing.

A survey is required by most lenders because lenders do not want to take any chances that the property has any problems. A survey problem is rare, but can sometimes unveil problems such as building and pool easement encroachments or boundary line disputes.