Even if you own a home, you may not be familiar with title insurance. You may remember hearing something about it in the lead-up to your closing day, but you might not know all the details about the lender’s title insurance policy you paid for when you closed on your home. World Wide Land Transfer can offer you service as a … [Read more...] about The Top 4 Biggest Title Insurance Myths
Title Insurance Blog
Do You Need a Survey When Buying a Home?
Would you buy a pair of shoes without knowing what size they are? Of course, you wouldn’t, but plenty of real estate purchasers buy property having no idea how big their plot is and where its boundary lines are located. If you are buying real estate, you may consider a thorough survey an unnecessary expense, but it is … [Read more...] about Do You Need a Survey When Buying a Home?
What Are Affiliated Business Arrangements in the Real Estate Industry?
When buying real estate, your real estate agent will provide you with countless forms to fill out on or before closing day. The sheer amount of paperwork can be overwhelming, especially for first-time buyers. That’s why it can be easy to miss one particular form required by the Real Estate Settlement Procedures Act of 1974 … [Read more...] about What Are Affiliated Business Arrangements in the Real Estate Industry?
Do I Need Title Insurance for a Condominium Purchase?
While purchasing a condominium is similar to purchasing a single-family home in many ways, it’s also very different. When you buy a home, you own the building itself and the land it sits on; when you purchase a condo, you only own the space inside the unit. This could lead you to believe that you don’t need title insurance for a … [Read more...] about Do I Need Title Insurance for a Condominium Purchase?
National Association of Realtors Settles Collusion Lawsuits
In a landmark settlement, the National Association of Realtors (NAR) agreed to pay $418 million over the next four years to settle numerous lawsuits related to rules regarding the way real estate agents receive commissions. Critics of these rules claimed they created a conflict of interest which incentivized real estate agents … [Read more...] about National Association of Realtors Settles Collusion Lawsuits
What Happens If a Title Defect is Discovered When a Property Is Already Under Contract?
Putting in an offer on a home is one of the biggest financial moves you will ever make. While there are still some hurdles to overcome, formalizing your offer and having it be accepted by the seller will bring you one step closer to your dream of home ownership. But what if something comes up in the meantime that will prevent … [Read more...] about What Happens If a Title Defect is Discovered When a Property Is Already Under Contract?
NJ Title Insurance – Clouds on Title
A chain of title is not always perfect. Ownership rights of a property can be clouded by a number of potential liens as well as prior incompetence and maybe even fraud. Gaps or problems in a chain of title put a seller in a difficult predicament as these items need to be cleared by a NJ Title Company that is closing the … [Read more...] about NJ Title Insurance – Clouds on Title
New Jersey Title Insurance CSL Changes
The Department of Banking and Insurance approved a request from the New Jersey Land Title Insurance Rating Bureau for an increase in the charge for issuance of a Closing Service Letter ("CSL") from $25.00 to $75.00. The said increase is going into effect on June 1, 2012, and it applies to all applications for New Jersey Title … [Read more...] about New Jersey Title Insurance CSL Changes
New Jersey Title Insurance and Riparian Rights
As per Stewart Title Insurance Company there has been an increase in claims arising from the failure to take exception for riparian lands that have not been granted by the State of New Jersey. It made me realize and think that I bet most consumers nor real estate professionals even understand the ins and outs or even what … [Read more...] about New Jersey Title Insurance and Riparian Rights
NJ Title Insurance Industry Forces Recordation Law Change
As a New Jersey Title Company it has been very frustrating to have to deal with the antiquated recordation practices in the state of New Jersey. However, the NJ Title Insurance industry has finally succeeded in setting the path towards modernizing the recording laws with the passage of Assembly Bill A2565, signed into law on … [Read more...] about NJ Title Insurance Industry Forces Recordation Law Change
