Title Insurance
Many years ago, it was customary for anyone purchasing property to obtain an abstract of title, which was then examined by a real estate attorney to give an opinion on whether the title to the real estate was good, or subject to some problems. Today, this has been replaced, in large part, by title insurance. A policy of title insurance is issued by a title company, on an underwriter licensed by the state of Texas to insure land titles. The policy is issued after a thorough title examination to discover any liens, judgments, outstanding interests in the property, easements, or other flaws, such as an estate that has not been administered, or claims of a divorced spouse. A title company maintains a system of abstract records of all recorded transactions of real property in a county, which are searched, as a preliminary to issuing a policy of title insurance. A title insurance policy is issued to cover the amount of the purchase price of the property, or the loan amount. The charges for the premium on the title policy are set and regulated by the State Board of Insurance.
John Hemphill, Attorney
Guaranty Abstract & Title
Give us a Call today at:
(325)223-2255
or email us at healy@callhealy.com with any questions!
Matt Healy, CRS GRI Broker
Leslie Healy, CRS GRI ABR
1732 Sunset Drive
San Angelo, TX 76904
This page was updated on 11/22/2004 by Leslie Healy