The way it should be

Consumer First Title & Escrow, LLC

428 McLaws Circle, Suite 202A Phone: (757) 645-4137

Williamsburg, VA.  23185 Fax: (757) 645-4187

office@consmrfirst.com


WHAT IS TITLE?


A title is comprised of the legal rights,  that a person has to the ownership and possession of land.  It is possible that someone other than the owner has a legal right to the property.  If that right can be established, that person can claim the property outright or make demands on the owner as to its use.


WHAT CAN MAKE A TITLE DEFECTIVE


Any number of problems that remain undisclosed after even the most meticulous search of public records can make a title defective.  These hidden "defects" are dangerous because you may not learn of them for many months or years.  Yet they could force you to spend substantial sums on a legal defense, and still result in the loss of your property.


EXAMPLES OF SOME HIDDEN DEFECTS


- Creditor claims
- Deeds executed under false or expired powers or attorney
- Mistaken interpretation of wills and trusts
- Incorrect representation of marital status
- Undisclosed heirs
- Mistakes in recording legal documents
- Incorrect legal descriptions
- Forged deeds, releases, etc.
- Federal, state inheritance and gift tax liens
- Errors in tax records
- Federal condemnation without notice filing
- Capacity of foreign fiduciaries
- Duress in execution of documents
- Want of jurisdiction over persons in judicial proceedings
- Deeds from minors or non-existent entities
- Discovery of later will after probate of first will
- Easements by prescription not discovered by a survey
- Deeds delivered after death of grantor or grantee, or without consent of grantor
- Deeds from incompetent persons


TYPES OF TITLE INSURANCE


Your lender likely will require that you purchase a Lender's Policy.  That policy only insures that the financial institution has a valid, enforceable lien on the property.  It does not protect you.


A Standard-Traditional Owners Policy is designed to protect you from title defects that existed prior to the issue date of your policy.  It also covers the full cost of any legal defense of your title.


Standard-Traditional Owner's Policy protects against:


- Someone claiming an ownership interest in your title.
- Leases, contracts or options affecting our title.
- Someone claiming to have rights affecting your title due to forgery or impersonation.
- Someone having a right to limit your use of the land.
- A defective title.


A Homeowners-Enhanced Owner's Policy provides additional -expanded coverage *for a total of 29 covered risks caused by:


- Zoning violations.
- Subdivision law violations.
- Improvements that encroach into an easement.
- Building permit violations.
- Covenants, conditions and restrictions.
- Lack of vehicular and pedestrian access.
- Supplemental assessments arising as a result of construction or transfer prior to the policy date.
- Damage to your house caused from someone with easement rights.
- Someone refuses to buy your land because your neighbors' structures are on your land.
- Your house or lawn and trees are being damaged by someone with rights to dig a well or mine.

*Some coverages are subject to deductibles & liability caps