VIDEO: How to Handle Title Claims
In this video, Nexsen Pruet attorney Lauren Deyo discusses how to handle title insurance claims when you are facing a title defect.
Title insurance is crucial for the smooth operation of our real estate markets and by extension, our economy. It is also very important for lenders. The premium a lender will pay just once for a policy reduces the risk of incurring a loss that exceeds the value created from the land transaction. Additionally, the loan policy has value for the lender because it essentially transfers the costs of handling title defects to an entity that specializes in title issues and insurance. For this reason, you should always purchase a policy, and always consider tendering a claim for any perceived defect.