An amount that is offered to the purchaser as part of the purchase price as evidence of good faith.
An interest in another's land that entitles the holder of the easement only to use the land of another in the specified manner.
An improvement/structure that intrudes illegally on another's property.
Anything that affects or limits the fee simple title to a property, such as mortgages, leases, easements, or restrictions.
Add additional coverage to the title insurance policy. Also, in many instances, override express policy provisions that deny coverage for certain types of claims.
The quote you receive from ENTITLE DIRECT for owner's title insurance policies is for an enhanced homeowner's policy which provides additional protection against title-related claims when compared to a standard title insurance owner's policy. Some of the additional coverages provided by an enhanced homeowner's Policy, include, but are not limited to, the following:
Post Policy Forgery and Identity Theft
Building Permit Violations of Previous Owners
Violations of Restrictive Covenants
Inability to Access Property
Zoning Law Violations
Building Permit Violations
An ENTITLE DIRECT homeowner's policy of title insurance also increases in value by 10% each year for the first five years you hold the policy.
The difference between the fair market value of the property and the amount still owed pursuant to any mortgages or liens.
The depositing with an agreed-upon party called the escrow agent of anything pertaining to a real estate transaction, including closing funds and documents, for disbursement and delivery to designated parties by the escrow agent when agreed-upon conditions have been met.
In a real estate closing, an escrow account consists of funds held by an escrow agent for disbursement to designated parties only when agreed-upon conditions have been met. Also, lenders often require that you set up an escrow account for the payment of real estate taxes, homeowner's insurance, flood insurance, and private mortgage insurance. An initial amount is collected at closing to establish the account, and additional funds are added to your monthly payment each month to fund the account. It is important to note that the establishment of escrow accounts and the payment of taxes and insurance premiums at closing often have a significant impact on the amount of funds the buyer will be required to bring to closing.
Firms that act as neutral third parties to ensure that all conditions that the buyer, seller, and lender establish in a real estate transaction are met.
A written contract that gives a real estate agent or broker the exclusive right to sell.
Often requested by lenders, this policy extends additional protections to lenders, including protections from unrecorded easements, material and labor liens, and the removal of certain policy exceptions required by the lender.
