Our Steps of Title Service
Steps We Take | Documents We Prepare
Initial Request for Title Insurance -- An order for title insurance is opened with a title officer who produces the initial response promptly, usually within 24 to 48 hours. A preliminary report can be issued with the minimum of information, without even identifying the buyer or the terms of the sale. The report shows the record title as it presently exists and is only an offer to provide insurance.
On-Site Search and Examination -- Your title officer performs three searches: Property, Name and Tax searches.
Technical Review -- The skill and expertise of our title officer is the key to providing you with a useful, accurate title report. Once the report is issued, the review begins with 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.
Conditions, Limitations & Detailed Information
For complete information concerning the coverage of the Chicago Title ALTA Homeowners Policy, please refer to the policy form. Please contact Patrick Henry Title Company for a copy or
for details. The ALTA Homeowners Policy coverage has certain deductibles, liability limitations, exceptions
and exclusions. This
policy has been adopted by the American
Land and Title Association (ALTA). |
Preliminary Report: Showing the record title as it presently exists and
is only an offer to provide insurance.
Commitment: Showing the condition
of the title in the way we are willing
to issue it.
Pro Forma: A 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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When Refinancing
Your Mortgage Loan
We Can Help You Through the Transaction
For your refinance transaction with PHTC, you may qualify for a special title insurance rate based on the loan amount. Please contact us for details.
For more information regarding the importance of purchasing a new title insurance policy when you refinance, click here.
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