Also What is Title Insurance?
protects your real estate investment. In order to issue a title
insurance policy, we perform an extensive search of the public
record to determine what rights there are in the property and
who owns them.
search begins when we receive your title insurance order.
- We search
our database to determine whether we have searched or issued
a title insurance policy on the property before. A prior policy
will shorten the search work required.
- We then
order tax, assessment, and utility searches on the property.
The tax search will reveal any past due or unpaid taxes from
previous years. In addition, the search will reveal any special
assessments against the land and whether or they are current
or past due.
- A county
search is then ordered. Trusted Title contracts with searchers
in all NJ counties. If we are provided with a prior title
policy (“back title”), we provide a copy to our searcher and
have the search continued from the date of the policy to the
present. If we don't have back title, we order a full
search (60 year). The county searcher searches the history
of the property (“chain of title”). They search for easements,
restrictions, agreements, mortgages, lis pendens, surrogate's
records and county liens and judgments against all parties
in the chain of title.
the county search is complete, we order Upper Court Judgment
searches against all parties in the chain of the title for
the past 20 years. These searches include the New Jersey Superior
Court, US District Court, US Bankruptcy Court, Child Support
judgments, and DMV judgments. The search will determine if
there are any unsatisfied judgments against the seller, buyer,
and/or prior owners during the time they owned title. If there
are, they will need to be satisfied (paid/released) prior
all of these searches are complete, the title company issues
a Commitment to Insure, which states the requirements and
exceptions that must be cleared prior to closing.
- 24 hours
prior to closing, a title rundown is ordered to determine
if any additional documents have been recorded in the county
record office since the time of the initial title search that
affect title to the property. The upper court search will
also be updated.
title is closed and we receive payment, we order continuation
searches through the day after the recording of the deed and/or
mortgage to be insured. A review is completed of the recorded
documents, closing documents provided by the closing attorney,
and compliance with the title commitment issued prior to issuance
of the final title policy.
issuance of the final title policy, copies of the loan policy
are sent to the closing agent and lender. Copies of the owner’s
policy (for purchases only) will be sent to the closing agent