At Rudd & Hawkes you'll get the same title insurance products as other title companies, but coupled with the expertise and professionalism of experienced real estate attorneys.
American land title Association forms
We use the industry-standard ALTA forms to issue our owners and lenders policies. These forms, together with added endorsements as requested, are drafted in accordance with all applicable legal requirements for title insurance. The two most commonly issued forms of title insurance are the Owner's Policy and Lender's Policy.
NOTE: While we provide summaries of these two policies below for the education of consumers, these summaries are not meant to be a thorough explanation of what is covered and exempted from coverage by each particular policy. Anyone undertaking a real estate transaction should consult an attorney regarding the particular issues regarding their transaction.
Whenever a piece of real property is transferred from one individual or entity to another, the party receiving the real property seeks protection for undisclosed liens and other challenges to its title. An Owner's Policy ensures that the party buying a piece of real property is getting free and clear title to the land without hidden problems.
The Owner's Policy is almost always purchased by the seller of a piece of real property from a title insurance agency of its choosing.
If a loan transaction is involved in the purchase of real property, or an individual is refinancing property already owned by them, the lender requires a separate title insurance policy to protect their interests. This Lender's Policy generally ensures the lender that it is in first position over any other potential liens or mortgages. The title insurance agency clears prior liens through the closing process and by doing thorough title searches both at the start of the transaction and prior to recording of the Deed of Trust.
Lender's Policies are typically paid for by the buyer of piece of real property from the title company of its choosing, although sometimes through negotiation a seller may agree to pay this amount as a part of the buyer's closing costs of the transaction.