Return to the Buying and Selling Homes Forum | Post a Follow-Up

 o
Ehnanced? Owner's title insurance?

Posted by jamies (My Page) on
Wed, Jul 13, 11 at 21:12

If seller is granting only a special warranty deed, does a new enhanced owner's title insurance policy purchased at time of sale protect buyer from claims that originally arose before seller's ownership?

(looking at foreclosure -- first experience -- and bank wants to give special warranty deed. Old house surrounded by vacant land with back taxes due which were/are owned by same person as the one foreclosed upon. Worrisome.)


Follow-Up Postings:

 o
RE: Ehnanced? Owner's title insurance?

Just make sure you get the title insurance policy, with inflation clauses for increase sin the properties value in the future.

The bank is NOT going to issue a general warranty deed.
They do not want to be in the line for things before their ownership.

The title insurance company will perform a search before they issue a policy to try and locate ANY defects in the chain.


 o
RE: Ehnanced? Owner's title insurance?

For an extra fee (well worth it), you can get an endorsement or rider added to your title insurance policy to protect you from claims arising before the seller took title.


 o Post a Follow-Up

Please Note: Only registered members are able to post messages to this forum.

    If you are a member, please log in.

    If you aren't yet a member, join now!


Return to the Buying and Selling Homes Forum

Information about Posting

  • You must be logged in to post a message. Once you are logged in, a posting window will appear at the bottom of the messages. If you are not a member, please register for an account.
  • Posting is a two-step process. Once you have composed your message, you will be taken to the preview page. You will then have a chance to review your post, make changes and upload photos.
  • After posting your message, you may need to refresh the forum page in order to see it.
  • Before posting copyrighted material, please read about Copyright and Fair Use.
  • We have a strict no-advertising policy!
  • If you would like to practice posting or uploading photos, please visit our Test forum.
  • If you need assistance, please Contact Us and we will be happy to help.


Learn more about in-text links on this page here