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Most
home sellers and buyers have been informed that obtaining
title insurance will provide them necessary protection over
possible title defects; but many remain uncertain about why
this is so ÷ or even about what title insurance is.
At the Chicago Title and Trust Family of Companies, we believe
we have everything to gain by throwing some light on the
subject. The more you know about title insurance and its
pricing, the
more confident you'll be about coming to us for a policy.
A Seller's Concern: How Much Does it Cost?
A title insurance policy from the CTIC Family is much
more cost-effective than the other kinds of insurance
you have
had to purchase. For a single, one-time-only fee, we provide
a
title policy that remains effective until the property
is sold to a new owner ÷ even if that doesn't occur for decades.
The CTIC Family's price structure is among the lowest ÷ giving
you the most respected name in title insurance at highly
competitive rates.
Why the Seller Needs to Provide Title Insurance
Any prospective buyer will need evidence that his investment
in your property is free of title defects. In fact, your
contract of sale probably requires it. The title insurance
policy that you provide the buyer is a guarantee that you
are selling a clear title to your real estate, unencumbered
by any legal attachments that might limit or jeopardize
ownership. The CTIC Family name carries special authority:
it reassures your buyer that the title has passed the most
careful scrutiny. In addition, it can help your deal close
more quickly and easily.
Why the Buyer Needs Title Insurance
Without a title insurance policy, you may not be fully protected
against errors in public records, hidden defects not disclosed
by the public records, or mistakes in examination of the
title of your new property. As a result, you may be held
fully accountable for any prior liens, judgments or claims
brought against your new property. However, your policy
insures that if such an occasion arises, you will be defended
free of charge against all covered claims and paid up to
the amount of the policy to settle valid claims. With a
title insurance policy from the CTIC Family, backed by
our vast resources and financial strength, you need never
worry that your new property's history will tarnish your
bright future.
The CTIC Family Difference
At the Chicago Title and Trust Family of Companies, we're
proud of our prestigious reputation. Since issuing our
first title policy in 1888, we've been the industry leader,
providing thousands of title policies each day. What's
more, we now offer rates that are often several hundred
dollars lower than our competitors. Our rates and service
make us the first choice among informed home sellers, while
our reputation for quality and unsurpassed financial strength
makes us the first choice among informed home buyers. Even
though we protect the titles of millions of American homes,
we stand behind each one as if it were our own.
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Copyright © 2003 Chicago Title Insurance Company. All
Rights Reserved.
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