Title insurance is a type of indemnity insurance that helps protect home buyers and lenders from financial loss caused by defects in a property title. The most common type of title insurance is known as lender’s title insurance and involves the purchase of a policy by the borrower to protect the lender. When it comes […]
Do I Really Need Owner’s Title Insurance?
If you have ever financed the purchase of a home, your lender probably required you to buy title insurance. This kind of title insurance policy is a lender title insurance. It insures your lender against problems with property ownership that can put your lender at risk. Many homeowners do not really understand owner’s title insurance […]
Is Title Insurance Required in Virginia?
Title charges, including title insurance premiums, are among the largest of the closing costs that buyers pay when closing on the purchase of a home. Title insurance is not required by law in the State of Virginia. Nonetheless, your mortgage lender will likely require it as a condition of the mortgage loan, and it is […]
How to Remove a Mechanic’s Lien Filed on Your Home or Property
A mechanic’s lien is a legal document that can be filed against property by a contractor or materials supplier as a way to get paid. A mechanic’s lien is frequently used by contractors and suppliers on construction projects when they have not been paid in full for the services they provided. Once a lien is […]
Frequently Asked Questions about Mechanic’s Liens: Answered
Mechanic’s liens are a tool available to contractors and subcontractors to get paid for the labor or supplies they provide in connection with a construction project. Mechanic’s liens are governed by the law of the state where the project is located. State laws vary; however, there are some general principles that apply to nearly all […]