CONSUMER PROTECTION LINKS
What Title Insurance Protects Against
Here are some common hidden risks that can cause loss of title or create an encumbrance on title:
- False impersonation of the true owner of the property
- Forged deeds, releases or wills
- Undisclosed or missing heirs
- Instruments executed under invalid or expired power of attorney
- Mistakes - such as clerical errors in recording legal documents
- Misinterpretations of wills or wills improperly probated
- Deeds by persons of unsound mind (mentally incompetent)
- Misrepresentation of marital status of grantors
- Liens for unpaid estate, inheritance, income or gift taxes
- Incorrect legal descriptions Or inadequate surveys
- Fraud in execution of documents
- Defective acknowledgments by notaries
Shopping for Title Insurance
Often your mortgage provider will select a title insurer, but you should ask to see prices from several providers. The lender requires that you purchase lender's title insurance which insures up to the value of the loan on the property. This item can be found on your Closing Disclosure Statement (formerly HUD-1). Be diligent and determine if the policy coverage and fee are suitable for your needs. Ask why a particular policy is recommended.
Once your loan is approved,* your lender will work with the Title Agent or Escrow Officer to assist in handling all aspects of your settlement, including a title search and removing title defects; issuing a title commitment or insured closing protection letter; verifying liens affecting title; ordering payoffs for liens and mortgages; preparing a Closing Disclosure; reviewing lender closing instructions; receiving closing proceeds; making sure liens or old loans are paid off and canceled of record; recording deeds or other instruments; issuing a title policy.
A qualified and impartial notary witness closing agent can help you execute your loan documents confidentially and will ensure their expedited return to the Title Agent. A carefully chosen notary for your closing is Your right!
*It may be advisable to have an Owner's policy even if no financing is involved.
Your Child's Future
While adults may monitor their own credit reports, most parents or guardians don't expect their child to have a credit file, and rarely request or review a child's credit report for accuracy. Thieves may steal and use a child's information for years before the crime is discovered - often when the child applies for credit, a job, or a place to live.
Request a free FTC guide or ask your neighborhood notary for information.
BACK TO SCHOOL!
The internet gives students an excellent opportunity for exploring and researching all sorts of valuable topics. Defining clear guidelines for its use can keep kids safe from cyberbullying, predators and online data theft - which could lead to Identity Fraud. Read how AUTHORIZED USE POLICIES (AUP) can be used to set guidelines for proper computer use within your school and home. The Federal Educational Rights and Privacy Act (FERPA) protects the privacy of student records and requires schools to notify parents and guardians about their school directory policy. It also gives you the right to opt out of the release of directory information to third parties. Click here to view page in Spanish
IDENTITY THEFT PREVENTION!
Need a speaker at your school or event to highlight the threats and precautions available in the fight against identity theft? Request free materials.
Learn how Notaries help protect the public against FRAUD!
Find information regarding legal issues surrounding cancer survivors,Wills and probate, Guardianship and more. . . Here!
Did you know: AAA members receive $10,000 in Identity Theft Insurance, to help reimburse eligible expenses (such as, lost wages and lawyer fees) should you become a victim of identity theft.
Premier members need to enroll in
ProtectMyID® Essential to receive benefits.
NVLS is not a Title Insurance issuer or a title agent. All educational material for general information and not meant as legal advice.