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Bradley Moreau Title
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Preliminary Title Search, Residential Closings, Title Insurance
“They made the process quick & painless.”
FAQs
What is an Abstract?
An abstract is the summary of title and includes original documents that are filed with the Clerk of Court throughout the history of the property. The abstract includes physical attributes like lot size, the official address or location, square footage, and township, as well as owner information, consideration, terms of the transactions, subdivision covenants and restrictions, liens, encumbrances affecting the property, status of the property taxes, and more. It is a very helpful tool when reviewing title, as the abstract contains the entire history from when it was built through today.
Who Needs Title Insurance?
Anyone who is purchasing property can benefit from investing in title insurance. Even the most careful search of the records may not reveal all title issues until many years later, possibly when you try to resale.
Can Title Insurance Be Purchased at a Later Date?
Yes; however, the title review must be up to date and current through the date that the policy is purchased (i.e., the title will have to be reviewed again up to the date of the title insurance purchase).
What is a Lien?
A legal claim against property that must be satisfied when the property is sold. A claim of money against a property, wherein the value of the property is used as security in repayment of a debt. A lien is a defect on the title and needs to be settled before transfer of ownership. A lien release is a written report of the settlement of a lien and is recorded in the public record as evidence of payment. Lien coverage may be purchased during the construction of a new home to provide additional insurance to an owner or lender for protection if any liens are place on the property.
What Does A Title Company Do?
The title company works to protect the investments for buyer and their lender. They employ several different specialists that help facilitate a smooth closing process, from the pre-closer and abstractor to the title attorney(s). Their legal professionals will thoroughly review the title of the property while the pre-closer helps the attorney to gather necessary documentation from all parties. The Closing Secretary will then work with the lender and realtors to put together your closing package and documents for signing. The title attorneys at Bradley Moreau Title are licensed to provide title insurance to the buyer, which is a one-time fee to protect your investment from unknown legal issues beyond closing.
You can find more info on the FAQ page of our website.
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