Jim Eaton – Blueprint Realty, Inc.

Title Insurance Information For Franklin TN Properties

First time buyers often ask about title insurance, what it covers, and if they need it. Lender’s title insurance is required with most mortgages, however, owner’s title insurance is usually an option. Buyers must assess the benefits and decide for themselves on whether it is worthwhile based on the costs and advantages. In this article you will find title insurance information for Franklin TN properties.

Difference Between a Title Search and Title Insurance

Before closing, a title search is typically performed by a title company. This confirms that no other entity has a lien on the real estate (based on records on file) and that the title is clear to be transferred to a new owner. The title search is not guaranteed and does not always identify hidden issues in the title. Title insurance will cover most un-caught title issues and the fees associated with protecting your rights to a property.

When Can You Purchase Title Insurance?

Title insurance is a one-time fee due at closing and will insure you for the entire time that you remain owner of the home. You may buy it after closing, but it is normally more cost effective when purchased at closing. The charge is based on the amount of the mortgage.

Title Insurance Information For Franklin TN Properties and Coverage

Typical title insurance coverages include…

  • Fraud related to the execution of paperwork.
  • Undue influence on a seller or executor (of a will).
  • False impersonation by individuals alleging to be owners of a property.
  • Incorrect marital status of a seller.
  • Mental incompetence of grantors.
  • Conveyance of a under-aged party.
  • Failure to deliver critical paperwork.
  • Unresolved claims not noted in the records.
  • Wrong indexing at the Registry.
  • Clerical errors in recording legal paperwork.
  • Delivery of deeds after the passing of a grantor.
  • Deeds executed under incorrect powers of attorney.

Some policies additionally cover…

  • Undisclosed heirs.
  • Wills not properly probated.
  • Mistaken interpretation of trusts.
  • Birth of heirs subsequent to the date of a will.
  • Incorrect property surveys.
  • Inaccurate legal descriptions.
  • Issues caused by identical names.

The information above is only an introduction. Consult a local attorney for up-to-date title insurance information for Franklin TN properties and costs, as they normally differ based on the provider. The above should not be interpreted as legal advice and may change without notice.


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Jim Eaton - Blueprint Realty, Inc.