281 Browertown Road
Suite 201, 2nd Floor
West Paterson, NJ 07424
973.837.0411 - Office
973.837.0455 - Fax

twi@titleworksinc.com

"At TitleWorks, our goal is to ensure that your transaction will close as scheduled, not to delay them."

Title insurance protects against claims that happened in the past but are not yet apparent at the time the property changes hands. Title Insurance assures property owners and mortgage lenders that property has a marketable (valid) title.

If, for example, someone makes a claim that threatens your ownership of the property, the title insurance company protects you and your lender against loss or damage up to the amount you paid for the property.

Title insurance is a single-premium agreement to indemnify (or hold harmless) the policy holder for losses caused by both on-record and off-record defects found in the title of an insured property. The coverage afforded by the policy can never exceed the amount of the policy, and the risks covered by the policy are limited to title defects that are in existence on the date on which the policy is issued.

Title defects are not common, but when they occur, the consequences can be costly. You can go to the local county recorder's office and find out who owns any piece of property in the county. In fact, all sorts of title - irregularities in the history of the various people who have owned the property since it was originally constructed can affect a property's title - irregularities that are difficult or impossible to find, i.e., unpaid property taxes, forgery and fraud, and mechanic's lien foreclosure to name a few.

If a party makes a claim that threatens your ownership of your real estate, the title company protects you and the lender against loss or damage.

Because of the retrospective nature of title insurance, the premium structure is different from other types of insurance. A single premium is payable at the time the policy is issued, and the policy remains in effect, with no additional premiums, for as long as the insured retains an interest in the property.

A title policy is a contract of indemnity. The title insurer is agreeing to pay the insured for any actual loss that the insured suffers by reason of the title not being as represented in the policy. A title insurance policy speaks as of the date of its issuance, and, therefore, does not cover subsequent increases in value of the subject property.