Tagged : Title insurance

Found 3 blog entries tagged as "Title insurance".

Do you know how you currently hold title to your property?  Do you own it individually or jointly with another person?  If with another person, do you hold title as “joint tenants” or as “tenants in common”?  The difference could affect what happens to your property after you die.  Therefore, it is important to know and understand how you currently hold title to your property or how you want to take the title on your next purchase for estate planning purposes.

In Georgia, when a property is owned by more than one person (husband and wife for example), the title is typically held as either “Joint Tenants with Rights of Survivorship” (Joint Tenants) or as “Tenants in Common”.   The language in the warranty deed from the prior owner to the current owners

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Prior to the closing on the purchase of a piece of property in Georgia, an attorney performs a title examination of the property.  This examination includes researching all of the title documents that are recorded in the Superior Court Clerk’s office for the county in which the property is located.   The attorney uses this examination to identify any mortgages, liens, judgments or other encumbrances which need to be satisfied or corrected at the closing.

However, this title search will not identify over 100 possible defects in the title that could arise at any time in the future.  For example, this title search will not identify: 1) any prior documents in the chain of title that have been forged, lost or misfiled, 2) any documents that have

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Typically, when a seller conveys title to a purchaser, the seller executes a general Warranty Deed transferring all of their interests in the property. The seller is “warranting” to the buyer that the seller has good and marketable title to the property. Thus, if a title issue later arises involving a claim against the title that occurred at anytime prior to the sale, the purchaser can seek recourse against the seller through this Warranty Deed.

Today, many purchasers are buying foreclosed property wherein the seller (bank) only agrees to execute a Limited (or Special) Warranty Deed. Here, the seller is still conveying all of their interests in the property to the Purchaser. However, the seller is only “warranting” title to the purchaser for any

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