First American Title Insurance

First American Title Insurance is a company that provides title insurance for homeowners, real estate agents, and mortgage lenders. They have been in business for over 130 years and are one of the largest title insurance companies in the United States. In this article, we’ll be discussing everything you need to know about First American Title Insurance, including what it is, what it covers, and how to get it.

What is Title Insurance?

Title insurance is a type of insurance that protects homeowners, real estate agents, and mortgage lenders from financial losses that may occur as a result of defects in a property’s title. It provides coverage for issues like liens, undisclosed heirs, and errors in public records. Unlike most types of insurance, title insurance only requires a one-time premium payment and lasts for as long as you own the property.

There are two types of title insurance: owner’s title insurance and lender’s title insurance. Owner’s title insurance protects the homeowner, while lender’s title insurance protects the mortgage lender. In most cases, mortgage lenders require borrowers to purchase lender’s title insurance to protect their investment. However, it’s recommended that homeowners also purchase owner’s title insurance to protect their own investment.

What Does First American Title Insurance Cover?

First American Title Insurance covers a wide range of issues that can arise with a property’s title. Some of the most common issues that are covered include:

First American Title Insurance also covers other issues that can arise with a property’s title. However, every policy is different, and the coverage may vary depending on the policy you purchase.

How to Get First American Title Insurance

If you’re interested in purchasing First American Title Insurance, the first step is to find a title agent in your area. You can do this by visiting the First American Title Insurance website or by contacting a local real estate agent. Once you’ve found a title agent, you’ll need to provide them with some basic information about your property, such as the address, purchase price, and loan amount.

Your title agent will then prepare a title report, which will outline any issues with the property’s title. If any issues are found, your title agent will work with First American Title Insurance to resolve them before closing. Once the issues are resolved, you’ll be able to purchase title insurance from First American Title Insurance. The cost of the insurance will depend on the purchase price of the property and the loan amount.

FAQ

Q: What is title insurance?

A: Title insurance is a type of insurance that protects homeowners, real estate agents, and mortgage lenders from financial losses that may occur as a result of defects in a property’s title.

Q: What does First American Title Insurance cover?

A: First American Title Insurance covers a wide range of issues that can arise with a property’s title, including liens, errors in public records, fraud, and undisclosed heirs.

Q: How do I get First American Title Insurance?

A: To get First American Title Insurance, you’ll need to find a title agent in your area and provide them with basic information about your property. Once any issues with the property’s title are resolved, you’ll be able to purchase title insurance from First American Title Insurance.

Q: How much does First American Title Insurance cost?

A: The cost of First American Title Insurance depends on the purchase price of the property and the loan amount. Your title agent can provide you with an estimate of the cost.

Q: Do I need title insurance?

A: While title insurance isn’t required, it’s highly recommended. Without title insurance, you could be financially responsible for any issues that arise with the property’s title.

In conclusion, First American Title Insurance provides homeowners, real estate agents, and mortgage lenders with protection against financial losses that may occur as a result of defects in a property’s title. By working with a title agent, you can ensure that any issues with the property’s title are resolved before closing and that you’re protected for as long as you own the property.