A lender goes to great lengths to minimize the risk of lending money for the purchase of real estate. First, credit is checked as an indication of the borrower's ability to repay the loan.

Then, the lender seeks assurance that the quality of the title to the property to be acquired and which will be pledged as security for the loan is satisfactory. The lender does this by obtaining a loan policy of title insurance.

The loan policy does not protect the borrower.
The loan policy protects the lender against loss due to unknown title defects. It also protects the lender's interest from certain matter which may exist, but may not be known at the time of the sale.

But, this policy only protects the lender's interest. it does not protect the borrower. That is why a real estate purchaser needs an owner's policy, which can be issued at the same time as the loan policy, usually for a nominal one-time fee.

What is the danger of loss?
If the lender has title insurance protection and the owner does not, what possible danger of loss exists?

As an example, assume real estate was purchased for $100,000. A down payment of $20,000 is made, and a lender holds an $80,000 mortgage lien, or beneficial interest. The lender acquires title insurance protecting the lender's interest to $80,000. But the purchaser's down payment of $20,000 is not covered.

What if some matter arises affecting the past ownership of the property?
The title insurance company would defend and protect the interest of the lender. The purchaser, however, would have to assume the financial burden of his or her own legal defense. If the defense is not successful, the result could be a total loss of title.

The title insurance company pays the lender's loss and is entitle to take an assignment to the borrower's debt. The purchaser loses the down payment, other equity in the property that may have accumulated, and the property. And the balance on the note is still due!

How can there be title defect if the title has been searched and a loan policy issued?
Title insurance is issued after a careful examination of copies of the public records. But even the most thorough search cannot absolutely assure that no title hazards are present, despite the knowledge and experience of professional title examiners. In addition to matters shown by public records, other title problems may exist that cannot be disclosed in a search.

What title insurance protects against.
Here are just a few of the most common hidden risks that can cause loss of title or create an encumbrance on title:

• False impersonation of the true owner of the property.
• Forged deeds, releases or wills.
• Undisclosed or missing heirs.
• Instruments executed under invalid or expired power of attorney.
• Mistakes in recording legal documents.
• Misinterpretations of wills.
• Deeds by persons of unsound mind.
• Deeds by minors.
• Deeds by persons supposedly single, but in fact married.
• Liens for unpaid estate, inheritance, income or gift taxes.
• Fraud.

What protection does title insurance provide against defects and hidden risks?
Title insurance will pay for defending against any lawsuit attacking the title as insured, and will either clear up title problems or pay the insured's losses. For a one-time premium, an owner's title insurance policy remains in effect as long as the insured, or the insured's heirs, retain an interest in the property, or have any obligations under a warranty in any conveyance of it. Owner's title insurance, issued simultaneously with a loan policy, is the best title insurance value a property owner can get.

What Every Home Buyer & Seller Should Know About Title Insurance.
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 OKEE-TANTIE TITLE COMPANY, INC., 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 form the OKEE-TANTIE TITLE COMPANY, INC. 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. OKEE-TANTIE TITLE COMPANY, INC.’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 of jeopardize ownership. OKEE-TANTIE TITLE COMPANY, INC. name carries special authority: it reassures your buyer that the title has passes 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 mistake sin 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 OKEE-TANTIE TITLE COMPANY, INC., backed by our vast resources and the strongest Underwriters in the United States with most financial strength, you need never worry that your new property's history will tarnish your bright future.

The OKEE-TANTIE TITLE COMPANY, INC. Difference
At OKEE-TANTIE TITLE COMPANY, INC., we're proud of our prestigious reputation. Since issuing our first title policy in 1989, we've been an industry leader, providing thousands of title policies each day. What's more, we now offer rates that are lower than our competitors. Our rates and service make us the first choice among informed home sellers, while our reputation for quality and our cutting edge technology makes us the first choice among informed home buyers. Even though we protect the titles of thousands of American homes, we stand behind each one as if it were our own.