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Showing posts with the label Types of Title Insurance

3 Ways to Hold Title in Missouri

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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...

Lender's Policy vs Buyer's Policy

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Title insurance comes in two main forms: lender's policies and buyer's policies. While similar, these two policies offer distinctly different services for the parties they serve. If you're planning on buying a Lake of the Ozarks home in 2015, it's important that you know the difference between these policies. Lucky for you, Arrowhead Title, Inc. is here to help! Owner's Policy In the world of title insurance, the owner's policy essentially protects you, the owner of the property, from unforeseen issues down the road. Owner's Title Insurance is purchased at closing for a one-time fee. After this upfront payment, both you and your heirs will be protected from any problems that may arise in the future for as long as you or your heirs and an interest in the property.  The best part? If/when a situation arises that requires the protection of your owner's policy, those issues will be handled at no additional cost to you. Owner's policies o...