Title Insurance Services & Settlement Services
When you order title insurance with Princeton Assurance, you can have confidence that your transaction will be handled by competent, courteous and knowledgeable Licensed Title Agents. Our services include:
- Residential, commercial, foreclosure, short sale and present owner lien searches. We have an extensive network of title searchers and surveyors ensuring a quick turnaround time.
- Electronic transmittal of title commitments, endorsements and policies.
- Attorney Referrals, as necessary.
- Complete closing services (including mail away closings). We can handle your transaction from Contract to Closing.
- “In office” or “out of office” settlements – Need a home away from home? We offer closings or closing space in our well-appointed conference rooms at our corporate headquarters or will appear at the closing location of your choice. We will come to you!
- After hours closing accommodations – We offer evening or Saturday closings upon request.
- Acceptance of e-mail closing documents
- Disbursement of settlement funds
- Construction loan closings/disbursements
- Full recording services
- Quick return of loan documents and final title policies.
- Full services for all New Jersey and Eastern Pennsylvania transactions.
What is Title Insurance?
Protection against defects which affect the title to your home or business. Occasionally, hidden defects in the title or a mistake in a Deed, Will, or Mortgage may give someone else a legal claim against your property.
Why is Title Insurance important?
Protection against the Investment you’ve made in your home or business. If a claim is made against your property, title insurance can save you Time and Money!
Who is covered?
The Lender: When you borrow money to buy property, you are typically required to buy title insurance to cover the outstanding balance on the mortgage for the lender. However, the lender’s title policy does not protect you.
The Buyer: It’s a good idea to get your own title insurance policy for protection in case there’s a claim against your home.
How much does title insurance cost?
You will pay a one-time premium based on your purchase price for coverage that lasts as long as you own the property, or as long as you may be liable for any title warranties you make. You can obtain a quote by calling our office directly.
What risks are covered?
- Errors in the Public Records: Such as; incorrect information in deeds and mortgages regarding names, signatures or legal descriptions.
- Judgments, Liens and Mortgages: Claims against the property or the seller which become the new owner’s responsibility after closing, such as unpaid taxes, assessments, and other debts to creditors.
- Claims to Ownership: By the spouse of a former owner or by “the missing heir” of a deceased owner who did not receive his share of the estate.
- Invalid Deeds: Transfers by previous sellers who did not actually own the property, or by previous owners who were minors or not mentally competent.
- Government regulation, such as zoning, or the right to condemn property.
- Limitations on land use, such as laws against farm animals.
- Easements, rights of way, and other encumbrances noted in the deed or otherwise in the public records.
- Restrictive covenants which may prohibit certain types of use of your property.
What to do if a claim is made against your title.
Notify the title insurance company immediately, in writing. Include with the letter copies of all related letters and documents. The company will do one of more of the following:
- Pay the claim against your title
- Negotiate with the other party to settle the claim
- Defend a court related to the title
- Pay legal costs incurred in defending the title