What is Title Insurance?
Title insurance is insurance against loss or damage resulting from defects or failure of title to a particular parcel of real property.

How does title insurance protect me?
Title Insurance Companies, following a claim, will defend your title at the expense of the Title Insurance Company and will bear the cost to settle the claim, if proven valid, thus protecting your ownership and possession of your property. This coverage accrues to your heirs as well.

What Services are provided by Patriot Land Transfer, Inc.?
Patriot Land Transfer handles residential as well as commercial real estate closings, preparation of settlement documents, acknowledgement of deeds, affidavits, etc., issuance of title commitments and policies, as well as making custom services available.

Who selects the Title Insurance Provider?
Federal Regulations protect the right of prospective purchasers of real estate to select the Title Insurance provider of their choice. Don't let anyone deny you of this right.

What is a “Full Service” Title Agent?
As a full service title insurance agent, licensed to provide title services in Pennsylvania and New Jersey, Patriot Land Transfer is involved in all aspects of the closing, including property searches, necessary mortgage/judgment payoffs and tax information, preparation of title documents, disbursement of settlement funds, recording of documents, and issuance of title policies to both owners and lenders.

What is an Affiliated/Controlled Business Arrangement ABA/CBA?
These are arrangements whereby different providers of services affiliate themselves, usually providing financial inducements to the parties, for example: Real Estate Brokers/Title Companies, Mortgage Companies/Real Estate Brokers, Mortgage Companies/Title Companies, etc. We at Patriot Land Transfer, for personal and ethical considerations, choose to remain UNAFFILIATED. Our focus is on our insured.

Is there a law that requires me to obtain Title Insurance?
Although there is no law, per se, that requires a prospective purchaser to obtain Title Insurance, the vast majority of lenders require title insurance coverage, usually at the buyers expense.  In a cash transaction, it is all the more imperative that prospective purchasers obtain title insurance so as to protect their entire equity in the property.

How is the rate for Title Insurance determined in Pennsylvania?
Title Insurance Rates in Pennsylvania are regulated by the State Insurance Department. In many other States, Insurance services are provided a la carte, depending on the services provided. Pennsylvania uses what is known as an All Inclusive Rate, and provides, within a single rate, the costs to perform a title search, conduct a closing, and issue the Title Insurance Policies. Excluded from this rate are incidental fees such as transfer taxes, notary fees, recording fees, courier fees, endorsements, etc.

Closing: Settlement or Celebration?
Patriot Land Transfer, Inc. believes that final settlement should not be the time to iron out serious problems. The majority of settlements involve the purchase of a primary residence in which most families will reside for some time. Patriot Land Transfer strives in every instance to create a pleasant atmosphere of celebration rather than an unpleasant and uncomfortable experience.

Why Patriot Land Transfer, Inc.?
The above list was certainly not intended to be an exhaustive explanation of Title Insurance. Each closing is distinct and unique. Though there are many similarities among real estate closings, Patriot Land Transfer handles each Title Insurance Application with care and understanding. Often it is necessary to discuss many aspects connected with a typical real estate transaction. We at Patriot Land Transfer make ourselves available to answer and respond to any questions which may arise during the process. You may call us at 610-495-9855.

 

For individual attention and assistance with any questions you may have, email us at ti@patriotlandtransfer.com