Showing posts from February, 2015

Title Insurance - 5 Common Misconceptions

While arguably one of the most important forms of title insurance, title insurance is also quite possibly one of the least understood. Title insurance is designed to protect homeowners from financial loss (or worse - loss of their homes) due to complications with their titles. As your top resource for title insurance at the Lake of the Ozarks , the team at Arrowhead Title, Inc. is here to help dispel some of the most common misconceptions about title insurance. Misconception #1 Title Insurance Protects The Value Of The Home In fact, title insurance does not have any impact on your home's value. Title insurance does, however, protect your right to ownership of the home in the event that an issue arises with your title. Misconception #2  The Lender Requires Title Insurance, So I Don't Need To Purchase My Own. Your lender will almost definitely require a title insurance policy, but that does not mean that you should not purchase a policy for yourself as well. Your le

What is "Chain of Title"?

Title insurance is a special kind of insurance that protects property owners' right to use and occupy their land. For some homes and/or properties, the title (the document that proves ownership) can be limited by rights and claims asserted by other individuals. If someone else brings a claim against your property, your ability to use and enjoy the land may be reduced and/or you may suffer great financial loss. That's where title insurance comes in. Title insurance is your first line of defense against these potential hazards. Property is often the biggest investment most people make in their lifetimes, and it is crucial to protect this investment with title insurance. Title Insurance Focuses on Risk Prevention Whereas other forms of insurance guard against risks by assisting you after an incident occurs, title insurance manages your risks by focusing on preventing risks before they occur . In order to do this, title insurance companies rely heavily on somethi

How Much Does Title Insurance Cost?

As with most other types of insurance, the first question that comes to mind when people think about title insurance at the Lake of the Ozarks is usually, "how much will it cost?" With all the other costs associated with buying a Lake of the Ozarks home , home buyers are usually looking for ways to save extra money and may be tempted to opt out of purchasing the optional Owner's Title Policy. As you trusted title professional, however, all of us at Arrowhead Title, Inc. are here to tell you that title insurance is essential, and it's more affordable than you think . Lifetime Coverage for a One-Time Premium Title insurance is not like any other form of insurance. Unlike every other type of insurance, title insurance is purchased for a one-time premium . After you pay the premium upfront, your title insurance policy will remain in effect as long as you or your heirs have a vested interest in the property. Since title insurance only requires a one-time pre

3 Ways to Hold Title in Missouri

Most people may not realize this, but deeds to titles are not "one size fits all." When you purchase property at the Lake of the Ozarks , you have an opportunity to choose how you want to title your home. Each state has its own regulations regarding the different types of title. As your trusted Missouri Title Company ,  Arrowhead Title, Inc. is here to help you make sense of some of the most common ways to hold title. From here, you will be able to determine which method is best for you. Tenants in Common Any two or more people, related or not related. In effect, each person owns an undivided interest. Upon the death of an owner, their interest goes to their heirs - NOT the other tenant in title. Tenants in Common is created by saying "as tenants in common" after the names of the grantee in a deed, or by simply not stating any kind of tenancy. Joint Tenants Any two or more people, related or not related. In effect, each person owns an undivided inter