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Initial Request for Title Insurance -
An order for title insurance is opened with a Tallent Title Group, Inc. staff member who produces an initial response to the order promptly within 24 to 48 hours. Orders are placed either via phone, fax, or our
Place Order
web page.
On-Site Searching and Examining -
Our title abstractors perform three searches: Property, Name, and Tax searches. From that information, a preliminary report is created. Our on-site customer service center expedites the process of obtaining hard copies of recorded documents. Imaging helps to expedite searches with the ability to obtain
documents on-line.
Technical Review -
The skill and expertise of our abstractor is the key to providing you with
a useful,
accurate title report. Once the report is issued the review begins by making a technical
analysis of the
documents of record. An interpretive view of all recorded matters is made to
evaluate their impact on
the title to the property. Among the questions the examiner asks are:
Would any of the recorded matters
prevent the buyer from using the property for its intended
purpose? Can antiquated leases be eliminated
from the policy per a review of the current
leases?
Inspection Analysis -
In anticipation of title insurance coverage, a site inspection is ordered. From
the
inspection report, the initial title product is supplemented to show any encroachments or other
off-record matters
which would ultimately impact the title.
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Re-Insurance -
Our title insurers insure up to the total sale price or loan amount, and then employ another title insurance company to insure them. The premium paid to the re-insurance title company is deducted from the title fees; it is not an additional charge to the parties. Re-insurance is handled by our Title Department when requested by the proposed insured or is required based upon self-imposed or statutory title insurance limits.
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Co-Insurance -
The proposed insured may only allow the title insurance company to insure up to a certain amount (i.e. not the total sale price or loan amount). The insuring company must employ another title insurance company to insure the remainder of the sale price or loan amount. When there is co-insurance, the customer is charged based upon each company’s filed rates for the portion of the total liability covered by that company. The co-insurance company may be chosen by the customer.
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We Earn Your Respect with our Skills, Service and Solutions -
We try not to point out impediments to the close of a transaction without also offering assistance and solutions. By understanding the sometimes delicate balance of the interests of the parties to a transaction, and by professionally and courteously handling issues as they arise, we can capably guide a transaction to a successful conclusion.
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Documents in the Title Process -
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- Preliminary Report
- Commitment - Shows the condition of title in the way we are willing to issue it.
- ProForma - Specimen of what the requested policy, as requested, will look like. Underwriting issues not completed. Not binding upon the company
- Policy - Final product. Contract of indemnity between named insureds and the company.
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