The Charleston, South Carolina area is a great place to live or have a vacation home. The weather is great, the beaches are fantastic,golf courses are abundant, there are many historical sites, the architecture is unbelievable, the dining is unbeatable, and the people are the friendliest in the country. It is because of these reasons that I believe Charleston SC Real Estate is truly unique. I look forward to helping you with any of your Charleston SC Real Estate needs in Charleston, Berkeley, or Dorchester counties. Today’s article is titled:
Title Insurance and It's Value
Title insurance normally covers defects in the title which do not appear in the public record. Title insurance indicates only that the title is insurable, not without defects. In some cases when a defect is found in the public record you can still get title insurance. However, if you are able to get title insurance when there is a defect found in the public record the title insurance company will make note of it and it will not be covered by the policy. In South Carolina the buyer typically pays for the title insurance.
There are two types of policies:
1. Mortgagee Policy: this policy protects the lender and covers the amount of the mortgage.
2. Owner’s Policy: this policy covers the owner’s equity plus the mortgage.
More than likely, your home is your biggest investment, and we protect your interest in that investment. Title insurance protects real estate owners and lenders against any property loss or damage they might experience because of liens, encumbrances or defects in the title to the property. Each title insurance policy is subject to specific terms, conditions and exclusions. While other types of insurance (such as flood, auto or homeowners insurance) provide coverage that focuses on possible future events, title insurance protects against loss from hazards and defects already existing in the title to a property.
As always, your thoughts, questions, or comments are greatly appreciated.
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Sincerely,
"Carolina Joe" Idleman
http://www.carolinajoe.com
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