Providing Title Certificates And Title Insurance For Georgia Real Property Transactions
The attorneys at the Suwanee law firm of Reginald A. Hudspeth, LLC, assist with many aspects of a real estate purchase, including curing title objections and providing title certificates and title insurance.
The firm performs extensive research of a property in question, including easements or encumbrances that may be involved, and provides title certificates pertaining thereto.
Reginald A. Hudspeth, LLC, Attorneys at Law, also assists buyers with the procurement of title insurance. Procuring title insurance alongside a real estate purchase is integral in order to protect owners and lenders against potential problems. Despite diligent efforts, even the most careful research may not reveal certain mistakes or issues involved with the property. A title insurance policy will protect against defects in ownership of the property, such as indexing errors or recording mistakes. Title insurance also covers litigation expenses, including court costs and attorney’s fees, in the event the title is questioned.
Lenders financing real estate purchases, routinely require a Loan Title Policy, which protect the lender against loss, but they do not protect the owner. If a purchaser is buying a property using lender financing, there is a financial incentive to purchasing an owner’s policy simultaneously as the simultaneous Owner and Lender risk premium is significantly less than the total risk premium when the policies are purchased at different times.
Georgia is a “Filed Rate State.” This means that Title Insurers set their own rates and then file those rates with the state insurance commissioner. Once filed, those fees must be adhered to. Reginald A. Hudspeth, LLC is an issuing agent of five different national title insurance companies. While all Georgia underwriters charge the Filed Rates, other ancillary fees (e.g. title search) vary. Reginald A. Hudspeth has competitive ancillary fees.
For residential properties, national title insurers have websites which allow calculations of the risk premium for the amount of the policy, to wit:
Decades of Experience and Knowledge Handling Title Matters
The lawyers at Reginald A. Hudspeth, LLC, possess decades of combined experience in the Georgia real estate law. They have worked with buyers, sellers, lenders, escrow agents, and 1031 exchange intermediaries throughout the country from simple to complex real estate purchases.
Contacting the Firm
Reach out to experienced commercial real estate attorneys with Reginald A. Hudspeth, LLC, at 888-202-3177 to find out how they can help.
For Residential policies. To comply with federal consumer protection laws, including, but not limited to, the Truth in Lending Act, the Real Estate Settlement Procedures Act, and the regulations pursuant thereto, the premium when a special rate may be available based on the simultaneous issuance of a loan policy and an owner’s policy will be calculated and disclosed as follows:
1. The title insurance premium for a lender’s title policy is calculated using the full rate based on the principal of the loan amount.
2. The title insurance premium for an owner’s policy is then calculated using the full rate (including owner’s endorsements) based on the full market value/purchase price, adding the simultaneous issuance premium for the lender’s coverage, and then subtracting the full premium for lender’s coverage (as calculated in item 1 above).