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 transaction. For example, that beautiful Montclair Victorian with the … [Read more...]

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 Insurance received on or after that date. Why the increase in the … [Read more...]

New Jersey Title Insurance and Riparian Rights

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 "Riparian Rights" are.  The fact is that such claims can be quite costly, … [Read more...]

NJ Title Insurance Industry Forces Recordation Law Change

New Jersey Recording

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 January 17. This revision to the recording laws, supposedly establishes … [Read more...]

New Jersey Title Insurance & Mechanic’s Lien Issues

New Jersey Mechanic's Lien Coverage

Over the past several years most New Jersey title insurance underwriters have seen a increase in mechanic's lien claims specifically on condominium projects. Problems arise when developers sell condominium units prior to completion of all construction on the condominium project. Mechanic's lien claims are then filed against the project after the sales have already transpired. Such claims may be … [Read more...]

New Jersey Title Insurance Settlement Fees

Settlement Fees

NJ Settlement Fees Unlike other states the State of New Jersey mandates not only the charges for NJ Title Insurance but also the actual settlement fees. In many states it is common for a buyer/borrower to not have to pay any closing fee, especially when settlement is held at the title company.  However, a NJ Title Company must charge a specific amount in conjunction with the transaction.  The … [Read more...]

New Jersey Title Insurance Rates

The New Jersey Title Insurance Rating Bureau sets out the rating schedule on how to determine the state mandated title insurance charges.  In NJ instead of a percentage (%) discount the refinance and reissue rates are based merely on a lesser amount per thousand dollars of coverage.  This creates a bit more confusion for consumers but luckily all of the equations have been put into calculators so … [Read more...]