Question 1

What is title insurance?

Accepted Answer

Title insurance is a type of insurance that protects homeowners and lenders against legal issues or disputes related to the ownership of a property. It ensures that the title to the property is clear and that the owner has a legitimate claim to the land.

Question 2

Why do you need title insurance?

Accepted Answer

Title insurance is essential because it helps protect you from potential issues that could arise with the title to your property, such as undisclosed liens, encumbrances, or errors in public records. It provides financial protection and peace of mind during the home-buying process.

Question 3

What are some common title problems?

Accepted Answer

Some common title problems include unpaid taxes, errors in public records, unknown heirs claiming ownership, and encroachments from neighboring properties. Title insurance helps mitigate these risks and ensures that you can enjoy your property without any legal complications.

Question 4

What is the difference between owner's title insurance and lender's title insurance?

Accepted Answer

Owner's title insurance protects the homeowner's interest in the property, while lender's title insurance protects the lender's financial interest. It is recommended to purchase both types of coverage to ensure comprehensive protection for the transaction.

Question 5

How can errors in public records affect your title?

Accepted Answer

Errors in public records, such as incorrect property boundaries, outstanding liens, or unknown ownership claims, can create significant issues for the homeowner. Title insurance helps identify and resolve these problems, ensuring that your title is clear and you can safely enjoy your property.

Old Dominion Title & Escrow

Company Overview

Company Name

Address

Website

Phone

Approx. Annual Revenue

About Old Dominion Title & Escrow

Similar Companies

Frequently Asked Questions about Old Dominion Title & Escrow

What is title insurance?

Why do you need title insurance?

What are some common title problems?

What is the difference between owner's title insurance and lender's title insurance?

How can errors in public records affect your title?

Technologies Used

Key Decision Makers