Title
Insurance
First
American Title Company is the largest company in the First
American network. Our company is the second largest title
insurer in the nation. We offer our title insurance services
through a network of more than 300 offices and 4,000 agents in
all 50 states, as well as abroad in Australia, the Bahama
Islands, Canada, Guam, Mexico, Puerto Rico, the U.S. Virgin
Islands and the United Kingdom. Closing services are also
available in many First American offices.
Title insurance insures against
loss sustained by an insured due to the condition of title being
other than as insured. The beneficiaries of title insurance
policies generally are real estate buyers and mortgage lenders.
A title insurance policy protects the named insured against
title defects, liens and encumbrances existing as of the date of
the policy and not excepted from coverage. For a one-time
premium, the policy remains in effect until the property is sold
or refinanced. |
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Title
Policies
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ALTA Residential Policy, issued
automatically and at no extra cost to qualified homeowners
First American's ALTA Residential
Policy automatically provides extended coverage on the title
of your home at no extra charge.
Inflation Endorsement issued with ALTA Residential Policy
The Inflation Endorsement issued with
the ALTA policy increases the value of the title policy for
the increasing value of a single family dwelling to a
maximum of 150% of the original policy.
EAGLE
Protection Owners' Policy
Eagle Protection Owner's Policy is
issued on qualifying single-family 1-4 residential units
providing coverage and protection never before offered. The
"Eagle" Policy is a CLTA Plain Language Owner's Policy with
extended coverage including but not limited to building
permit violations, post-policy forgeries, living trust
coverage and automatic property inflation coverage.
5-year,
short-term rate
We give a short-term rate, that is, a
substantially lower rate, if a title policy has been
purchased by the owner of the property within the last five
years.
Binder
rates for buyers planning to hold property for two years or less
We give this rate, normally to
investors, if they sell the property within two years or
less. The binder rate is the normal title rate plus 10%. At
the close of the resale, the binder rate is refunded to the
investor.
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