Frequently Asked Questions
What is "title insurance"?
Title insurance protects property buyers and mortgage lenders against defects or problems with a title when there is a transfer of property ownership. If a title dispute arises following a sale and transfer for title, the title insurance company may be responsible for paying to defend against a claim and cover losses, depending on the policy.
Issuing title insurance is a two-part process. First, the title company researches records to produce a "Title Report", searching for title issues such as chain of title, claims to the property, unpaid taxes, pending legal action, errors, fraud or other problems with the deed.
Title insurance, although required for most lenders, provides you the assurance that you are getting what you pay for.
Do I need "title insurance"?
If you take out a mortgage loan when you buy your property, your lender will require a loan policy of title insurance. This protects the lender's interest in your property until your loan is paid off or refinanced.
At the same time, an owner's policy of title insurance insures your ownership rights to the property. Even though you'll pay for this policy only once, your coverage will last as long as you own your home.
A real estate purchase may be the largest financial investment you ever make. So, when you buy an owner's policy of title insurance, just think of it as buying some peace of mind!
Are title insurance fees standard across New York?
Title insurance premiums are standard across New York, and governed by statute. Rosemarc sets itself apart from other abstract companies by providing the highest level of service.
Through its relationships with industry professionals throughout New York, Rosemarc can provide a streamlined transaction, with service setting us apart.
Premium Calculator Provided by Amtrust Title Insurance Company:
https://amtrusttitlegroup.com/Tools/RateCalc **