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
Title Insurance Blog
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
New Jersey Title Insurance & Mechanic’s Lien Issues
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 … [Read more...] about New Jersey Title Insurance & Mechanic’s Lien Issues
New Jersey Title Insurance 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 … [Read more...] about New Jersey Title Insurance Settlement Fees
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 … [Read more...] about New Jersey Title Insurance Rates
