<![CDATA[Carteret Title - Blog]]>Wed, 25 Apr 2018 00:58:43 -0400Weebly<![CDATA[Significance of Property Abstract in Home Buying Process]]>Thu, 21 Jul 2016 22:09:35 GMThttp://carterettitle.com/blog/significance-of-property-abstract-in-home-buying-processBuying a home is one of the most significant investments. It is essential to let no stone unturned in securing your investment. While buying a new home, it is necessary to seek assistance from a title company that helps in securing your legal right to own the property. There are many different responsibilities of a title company. One of the most important tasks undertaken by such companies is putting together an abstract of the property.
A property abstract refers to a collection of legal documents that carries ownership records of a piece of land. It typically include references to deeds, mortgages, wills, probate records, court litigations, tax sales and any such other legal document.
Professional abstractors may use their own records, if the work had been previously completed, or most often visit the appropriate government office to retrieve all required documents. After reviewing all the documents, professional abstractors summarize all of the data into a condensed title abstract report. Title abstracts are helpful in knowing the entire history of the property's ownership.
When you buy real estate property, you become the owner of it when someone gives you the title deed of the property. However, you will get ownership rights only of the title deed is valid. Even if the deed seems valid, there may be an unpaid mortgage attached to it, which was taken up to sixty years ago. No matter how much time is passed, if there is an outstanding mortgage attached to a title of property, it will eventually cancel all the deeds issued since then. Thus, when you purchase real estate, it is essential to assess the validity of the deed.
Professional abstractors assesses the validity of every real estate owner's property interest to determine if there is any unbroken chain of ownership from the date the property was transferred many years ago until the current date.  A standard full property search is 60 years, but could be less if acceptable to the loan and/or insurance underwriters.
Most buyers and sellers are required by the lender to purchase title insurance as a protection against prior property transfer errors or claims of prior heirs, when purchasing real estate.  The Title Insurance underwriter will require a Title Abstract to be completed prior to issuing the policy.

<![CDATA[How to Assess and Find the Most Professional and Suitable Title Company]]>Sat, 30 Apr 2016 00:25:25 GMThttp://carterettitle.com/blog/how-to-assess-and-find-the-most-professional-and-suitable-title-companyInvesting in a home is a big step for a person, as well as obtaining a mortgage or selling a property. To ensure smooth, legally compliant and hassle-free process and operation, it is important that the person should look to engage in a professional and quality title company for handling the transaction. This way, the closing will be handled in the right manner, professionally, error-free and in compliance to all the rules and regulations.
But getting across a reliable title company can be a hard task. Our below mentioned guidelines and insights will help you assess and contact the most suitable, reliable and professional nationwide title company for closing your transaction impeccably:

1. The company’s reputation
Determine for how much time the title company has been in the trade, and what its reputation in the domain is. You can go through the firm’s website to gather more info, and talk with past customers to evaluate its professionalism.

2. Competency
A must-look-into factor is to gauge and evaluate employees’ competency as well as the firm’s aptitude. Go to their office, talk with the staff, look around for their work patterns, keep an eye on their communication level and see how much knowledge input they are giving to a case. Make sure to assess if they are updated with the latest products and mechanics of the title industry.

3. Legal support
A title company which has a strong legal support and assistance has an added advantage over others. This ensures that the in-house attorney provides complete legal support for all title & closing issues, documentation drafting, along with all other important aspects like deeds, waivers, escrow agreements and more. The attorney will be updated on the legal aspects related to the real estate business, so as to provide good support and assistance to you.

4. Versatile services
The company should be technologically advanced, in keeping pace with the current times, and it should be able to deliver multi-faceted services like issuing a title policy, handling construction disbursements, and more, to provide you with full convenience and comfort under one roof.

5. Client-oriented & cost-effectiveness
Last but not the least, the firm and the employees should be dedicated towards your cause and provide you complete assistance, guiding you through the whole process from start to finish. They should make you feel welcome and at ease. Along with that, pricing is also an important factor; the company should provide you with a reasonable service.

Make sure that you go through these factors fully before closing in on a title company, which should be well-resourced to provide you title settlement services competently and professionally.
<![CDATA[Owners Title Insurance]]>Wed, 02 Sep 2015 18:45:34 GMThttp://carterettitle.com/blog/owners-title-insurance-can-protect-you-from-creditor-claims-deeds-executed-under-false-or-expired-powers-of-attorney-mistaken-interpretation-of-wills-and-trusts-incorrect-representation-of-marital-status-undisclosed-heirs-mistakes-in-recording-lega Title Insurance protects you from Creditor claims, Deeds executed under false or expired powers of attorney, Mistaken interpretation of wills and trusts, Incorrect representation of marital status, Undisclosed heirs, and Mistakes in recording incorrect legal descriptions.