• Why Title Insurance?

Your home is likely to be the biggest investment you will make. Title Insurance is how you protect it.

  • PROTECTION

    Title insurance is your best protection against defects (a potential risk) to a current owner’s full right or claim to sell a property. It protects against defects, which could remain hidden, despite the most thorough search of the public land records.

    Lender’s Title Insurance, which covers your mortgage lender, is typically paid for by the homebuyer. It is required by the lender and protects the lender’s interest.

    Owner’s Title Insurance is purchased by the home buyer. It is the best way to protect your property rights, as well as your inheritors, beneficiaries, and trustees.

    DEFENSE

    In the event of a claim or lawsuit challenging ownership, Title Insurance covers the policy owner for:

    • • Legal Defense of your ownership interest
    • • Claim Settlement if it proves valid

    Owner’s Title Insurance can be home buyer’s primary defense.

    CHAMPION HAS YOU COVERED

    Champion is a licensed agent for some of the nation’s largest and most trusted title insurance underwriters. Delivering the best protection against unknown risks, Champion has you covered!

     

    OWNER’S TITLE POLICY COMPARISON

    BASIC 1 ENHANCED 2

    BASIC PROTECTION

    ASSUMES COMPLIANCE WITH POLICY UNDERWRITER REQUIREMENTS FOR ISSUANCE OF APPLICABLE POLICY
    Claims of ownership by third party
    Fraud or forgery in chain of title that occur prior to closing
    Unpaid mortgage(s), liens or encumbrances on the title (utilities, HOA dues, state/federal taxes, mechanic’s lien).
    Errors in closing documents or recording
    Errors in eClosing or rejection of electronic signature
    Unmarketability of title (where legal issues prevent property from being sold or transferred easily)
    Legal access to and from the land
    Restrictive covenants limiting your use of the property or land
    Parties in possession of the property not disclosed by public records (e.g. tenants, adverse possession)
    Coverage extends from closing to the final recording of deed (aka Gap Coverage)
    Coverage continues as long as you or your heirs have an ownership interest in the property

    ENHANCED PROTECTION
    Actual vehicular and pedestrian access, based upon a legal right
    Unrecorded easements affecting property rights or access
    Encroachment of neighboring buildings onto your land
    Correction and removal of a preexisting HOA violation(s)
    Loss of title due to seller violation of a covenant, condition, or restriction
    Inability to obtain building permit due to violation of existing subdivision law or regulation, or violation must be corrected3
    Forced removal or remedy of existing structure because it was built without a proper building permit3
    Forced removal or remedy of existing structure due to violation of existing zoning law or regulation3
    Forced removal of existing structure(s) due to encroachment onto neighbor’s land3
    Forced removal of existing structure(s) due to encroachment onto an easement or over a setback line
    Land cannot be used as a single-family residence due to violation of an existing zoning law or zoning regulation
    Damage to existing structures due to use of easement affecting the land
    Damage to existing improvements due to extraction of minerals, water, or other substance from land surface
    Residence not located at the address stated in the policy
    Discriminatory land-use restriction

    POST-CLOSING COVERAGES
    Inflation protection – automatic increase in policy amount up to 150% of the policy amount over five years
    Fraud or forgery affecting ownership rights
    Adverse possession (unauthorized leases, contracts or options)
    Ownership claims
    Post-policy mechanic’s lien protection
    Boundary line and encroachment disputes
    Unrecorded tax or special assessments
    Easements or restrictions affecting your use of the land
    Supplemental taxes due to prior construction, change in ownership or land use
    Rent and relocation expenses, if you cannot use your home because of a claim covered by the policy

    • 1 The ALTA Owner’s Policy may be used on residential and commercial transactions.

      2 The Homeowner’s Policy may be used on purchase or refinance transactions, improved property in a platted residential subdivision, a completed residential condominium unit, or improvedresidential property with a metes/bounds legal description that does not exceed 25 acres of land. Not applicable for construction loans or property that is vacant land. The Proposed Insured must be a “natural person.” No corporations, LLCs, or other entities.

      3 Subject to deductible and maximum dollar limit of liability shown in Schedule A.This chart is intended for summary comparison only and is not a full explanation of coverage afforded by the ALTA Owner’s Title Insurance Policy. There are exceptions, exclusions, and conditions to coverage that limit or narrow the coverage afforded.

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