Frequently Asked Questions

 Title insurance is required by the Lender to ensure that the property is  free of all Liens, Judgements, and outstanding mortgages. 

Title insurance protects against past issues. Unlike regular homeowners insurance—which covers future events like fires or storms—title insurance covers problems stemming from events that occurred before you bought the home. You pay a single fee at closing, and the protection lasts for as long as you (or your heirs) own the property. 

Examples of items that Title insurance protects against:

• Undisclosed or missing heirs claiming ownership rights
• Forged or fraudulent documents in the property’s history
• Unpaid contractor liens, property taxes, or mortgages from prior owners
• Clerical or indexing errors in public records 

There are two types of Title Insurance:

• Lender’s Title Insurance: This protects the mortgage company's financial investment. Most lenders require it when you take out a home loan. 
• Owner’s Title Insurance: This protects your personal equity and ownership rights against unexpected claims. It is usually optional but strongly recommended.

• We verify that the owner has the right to sell the property.
• We verify that you get a clear title.
• We verify that all taxes have been paid and are up to date.
• We work with HOA’s and Condominium Associations to make sure that  all dues and assessments are paid. We make sure the new owners are set  up and current at closing.

Owners Title insurance is extra piece of mind to protect you against

• Property survey errors
• Boundary disputes
• Errors on the property deed
• Building code violations by a previous owner
• Conflicting wills
• Claims by an ex-spouse who didn’t authorize the sale
• Claims related to a forged power of attorney
• Liens from contractors, taxing entities or previous lenders
• A former owner’s unpaid child support
• Encroachments
• Improperly recorded documents

 Any funds over $500 are required to be sent to Keystone Summit Abstract, LLC via a Bank Wire (wiring instructions will be provided) or via  Bank issued Cashier’s check.   Any funds over $50,000 are required to be sent via Bank Wire.

One of the best parts about working with Keystone Summit Abstract, LLC  is we can close your purchase or refinance at any location that you  choose. 

Keystone Summit Abstract, LLC will provide a Check at Closing, or we  offer a Wire service to send the funds directly to your bank account 

You will have the option to receive a check or bank wire once your 3 day  right of recession per the lender is completed (Example, you sign on  the Monday the 21at, you will receive your funds on Friday the 25th) .