The 4 Most Common Questions About Title Insurance

Finding the right title insurance company is a daunting task. It’s almost as difficult as trying to understand title insurance in itself!

Title insurance is a policy that proves someone has ownership of a parcel of land. Long story short, you can think that you own land, but it can actually belong to someone else that can make demands on the property and/or claim it from you. Title insurance protects you from these actions.

First National Title Company has been the right title insurance company for the citizens of Arkansas with offices throughout Central Arkansas and Northwest Arkansas beginning in 1997.

Do you have more questions? If so, feel free to contact First National Title Company for answers. Understanding title insurance does take time, but it’s not impossible, and a primer is provided for your benefit below:

1 Do I Need Title Insurance? Absolutely. Having a title insurance policy will protect you from hidden defects or mistakes regarding the property, which you could be held accountable for.

2 What is a Title Search? A title search is a thorough examination of the historical records concerning a property. Deeds, court records, property and name indexes, and many other documents are examined to verify the seller’s right to transfer ownership and to discover any claims, defects, and burdens on the property. Some examples of these potential problems are unpaid taxes, unsatisfied mortgages, judgments against the seller, and restrictions on the use of the land.

3 How much does title insurance cost? The cost will vary depending on the property, but it is a price you will only pay once, and the coverage will be provided as long as you or your heirs are in possession of the property.

4 How Do I Get Title Insurance? The only time you will need to purchase title insurance is on the day of the closing of your transaction. Rates can vary from state to state, so be sure to do your research beforehand. Real estate agents and lenders are great sources for recommendations, but know that who you choose to provide your policy is your decision.

FNTC has been providing title insurance to Arkansans for decades. Call the branch nearest to you (our numbers are listed at the bottom of this page) or visit our contact page to learn more.