Welcome to the second edition of Benchmark Title
Company's new Title Tip of the Week Newsletter. We hope you find these tips informative and useful
and your clients.
is Title Insurance?
Sarah Holdener, Esq.
your clients ask you "What is Title Insurance?" and "Do I
really need it?" the following explanation may assist you:
Title insurance is protection against loss if a covered defect
is found in the title to your property. For a one-time premium your owner’s
title insurance policy will remain in effect for as long as you own the
property. Title insurance will defend you against a lawsuit attacking your
title, or reimburse you for the actual money lost.
Before a policy is issued, the title company conducts an
in-depth investigation into the history of the property to detect, prevent
and eliminate risks and losses caused by title problems. This is
accomplished by searching the public records to document the chain of
title to the property and to identify any outstanding claims.
When you buy a home you are given title to the property, which
generally means you receive full legal ownership. But sometimes there are
“hidden” defects that may give someone else a valid legal claim against
your property – such as errors in a deed or mortgage, liens against the
property or the seller, claims of ownership by spouses or children of
former owners, and invalid deeds created by someone who did not actually
own the property or was not mentally competent. Many of these
problems might not be discoverable during the title search. The title
policy you purchase at closing generally covers defects such as those
Before closing you should review the title commitment issued
by the title company. This document is a commitment to insure the property,
subject to the exceptions listed after a thorough examination of the
historical records concerning the property, and upon the completion of
conditions to be met in order to insure the proposed transaction. Many of
these conditions will be resolved at closing, such as paying off any
mortgages of the seller.
If you have questions regarding the conditions and exceptions
listed in your title commitment you should contact your closer or title
examiner for clarification.
Any questions can be directed to Benchmark Title at 618-239-3750. Please
feel free to call or email:
Serving you from three convenient locations:
1124 Hartman Lane
Shiloh, IL 62221
Escrow Fax: 618-239-3707
Title Fax: 618-239-3757
Fax Orders: 618-310-1589
President: John Howe
318 North Main St.
Columbia, IL 62236
4215 S. State Rte 159
Glen Carbon, IL 62034
Manager: Sara Sowell
Did you say free?
Be the first in
your office to try out SureClose.com,
Benchmark Title's new FREE online transaction management system. Why waste
time making status phone calls or standing by the fax waiting for your
title commitment when you can get what you need instantly from your own
computer. Visit SureClose.com
for more information or call April
Tolan, our SureClose Specialist, at 618-239-3750 for your sign-on so
you can start saving yourself time and money today. We'll even give you and
your clients a free CD at closing containing copies of their closing
Give me my policy!
Did you know that
lenders and home buyers now receive their title policies at the closing
table? Call Michelle
Null, VP Escrow Operations, to learn more about this exciting new
Ready to Refi?
homeowners will want to hear about our fantastically low new refinance rates.
Call today for a quote!
You can place your
next title order now by clicking here.
We send special notices and tips to customers who have given
email address or who have signed up to use SureClose, Benchmark's new
FREE online transaction management system. You may opt out of receiving
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Our mailing address is:
Benchmark Title Company, LLC
1124 Hartman Lane
Shiloh, IL 62221
Copyright (C) 2007 Benchmark Title Company, LLC All rights reserved.
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