Owners Title Insurance

Owner’s Title Insurance will not protect you from every loss, but it will protect you against these and other common hidden risks that would not be disclosed by a lawyer’s most meticulous search of the public records, and it will also pay for legal fees and other costs of defending your title.

Owner’s Title Insurance is not required in Georgia. The closing attorney will give you the option of purchasing owner’s coverage by paying a one-time premium at closing. This is considered an optional closing cost. Don't let anyone tell you that this is not needed. The lender's title policy only protects the lender's interest in the property (the loan amount). The owner's policy protects your interest (your downpayment and future equity, along with any legal fees incurred in defending your title).

At least two weeks prior to closing, contact the closing attorney and ask about the cost and coverage of an owner's title policy. Be sure that survey issues are covered. Have the attorney order a new property survey and make it part of your closing and title policy. If the attorney will not order the survey for you, do it yourself and have it delivered to the attorney's office at least several days before closing.

1.   Forgery
2.   Fraud in connection with the execution of documents
3.   Undue influence on a grantor or executor
4.   False impersonation by those purporting to be owners of the property
5.   Incorrect representation of marital status
6.   Undisclosed or missing heirs
7.   Wills not properly proven in court
8.   Mistaken interpretation of wills and trusts
9.   Mental incompetence of present or prior owner/seller
10. Conveyance by a minor
11. Birth of heirs subsequent to the date of a will
12. Inadequate surveys
13. Incorrect legal description
14. Non-delivery of deeds
15. Unsatisfied claims not shown on the deed records
16. Deeds executed under expired or false powers of attorney
17. Confusion due to similar or identical names
18. Dower or courtesy rights of ex-spouses or former owners
19. Incorrect indexing by the court clerk
20. Clerical errors in recording legal documents
21. Delivery of deeds after the death of the owner
22. Undisclosed (but recorded) tax or materialman's lien