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| 6430 Troost Ave Kansas City MO 64131 816-444-4800 816-822-1444 fax www.dtitleinsurance.com |
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Title insurance is insurance against loss from defects in title to real
property and from the invalidity or unenforceability of mortgage liens. It is
available in many countries but it is principally a product developed and
sold in the United States. It is meant to protect an owner's or lender's
financial interest in real property against loss due to title defects, liens
or other matters. It will defend against a lawsuit attacking the title as it is
insured, or reimburse the insured for the actual monetary loss incurred,
up to the dollar amount of insurance provided by the policy.
Typically the real property interests insured are fee simple ownership or
a mortgage. However, title insurance can be purchased to insure any
interest in real property, including an easement, lease or life estate. Just
as lenders require fire insurance and other types of insurance coverage
to protect their investment, nearly all institutional lenders also require
title insurance to protect their interest in the collateral of loans secured
by real estate.
Title insurance exists in the US in great part because of a comparative
deficiency in the US land records laws. Most of the industrialized world
uses land registration systems for the transfer of land titles or interests
in them. Under these systems, the government makes the
determination of title ownership and encumbrances on the title based
on the registration of the instruments transferring or otherwise affecting
the title in the applicable government office. With only a few exceptions,
the government's determination is conclusive. Governmental errors lead
to monetary compensation to the person damaged by the error but that
aggrieved party usually cannot recover the property.
Greatly simplified, in the recording system, each time a land title
transaction takes place, the transfer instrument is recorded with a local
government recorder located in the jurisdiction (usually the county)
where the land lies. The instrument is then indexed by the names of the
grantor (transferor) and the grantee (transferee) and photographed so it
can be found and examined by anyone who wants to see it. Usually, the
failure by the grantee to record the transfer instrument voids it as to
subsequent purchasers of the property who don't actually know of its
existence.
Under this system, determining who owns the title requires the
examination of the indexes in the recorders' offices pursuant to various
rules established by state legislatures and courts, scrutinizing the
instruments to which they refer and making the determination of how
they affect the title under applicable law. (The final arbiters of title
matters are the courts, which make decisions in suits brought by parties
having disagreements.) Initially, this was done by hiring an abstractor to
search for the documents affecting the title to the land in question and
an attorney to opine on their meaning under the law, and this is still
done in some places. However, this procedure has been found to be
cumbersome and inefficient in most of the US. Substantial errors made
by the abstractor or the attorney will be compensated only to the limit of
the financial responsibility of these parties (including their liability
insurance). Some errors may not be compensated at all, depending on
whether the error was the result of negligence.[1] The opinions given by
attorneys as to each title are not uniform and often require time
consuming analysis to determine their meanings.
Title insurers use this recording system to produce an insurance policy
for any purchaser of land, or interest in it, or mortgage lender if the
premium is paid. Title insurers use their employees or agents to
perform the necessary searches of the recorders' offices records and to
make the determinations of who owns the title and to what interests it is
subject. The policies are fairly uniform (a fact that greatly pleases
lenders and others in the real estate business) and the insurers carry,
at a minimum, the financial reserves required by insurance regulation to
compensate their insureds for valid claims they make under the
policies. This is especially important in large commercial real estate
transactions where many millions of dollars are invested or loaned in
reliance on the validity of real estate titles. As stated above, the policies
also require the insurers to pay for the costs of defense of their insureds
in legal contests over what they have insured. Abstractors and attorneys
have no such obligation.
property and from the invalidity or unenforceability of mortgage liens. It is
available in many countries but it is principally a product developed and
sold in the United States. It is meant to protect an owner's or lender's
financial interest in real property against loss due to title defects, liens
or other matters. It will defend against a lawsuit attacking the title as it is
insured, or reimburse the insured for the actual monetary loss incurred,
up to the dollar amount of insurance provided by the policy.
Typically the real property interests insured are fee simple ownership or
a mortgage. However, title insurance can be purchased to insure any
interest in real property, including an easement, lease or life estate. Just
as lenders require fire insurance and other types of insurance coverage
to protect their investment, nearly all institutional lenders also require
title insurance to protect their interest in the collateral of loans secured
by real estate.
Title insurance exists in the US in great part because of a comparative
deficiency in the US land records laws. Most of the industrialized world
uses land registration systems for the transfer of land titles or interests
in them. Under these systems, the government makes the
determination of title ownership and encumbrances on the title based
on the registration of the instruments transferring or otherwise affecting
the title in the applicable government office. With only a few exceptions,
the government's determination is conclusive. Governmental errors lead
to monetary compensation to the person damaged by the error but that
aggrieved party usually cannot recover the property.
Greatly simplified, in the recording system, each time a land title
transaction takes place, the transfer instrument is recorded with a local
government recorder located in the jurisdiction (usually the county)
where the land lies. The instrument is then indexed by the names of the
grantor (transferor) and the grantee (transferee) and photographed so it
can be found and examined by anyone who wants to see it. Usually, the
failure by the grantee to record the transfer instrument voids it as to
subsequent purchasers of the property who don't actually know of its
existence.
Under this system, determining who owns the title requires the
examination of the indexes in the recorders' offices pursuant to various
rules established by state legislatures and courts, scrutinizing the
instruments to which they refer and making the determination of how
they affect the title under applicable law. (The final arbiters of title
matters are the courts, which make decisions in suits brought by parties
having disagreements.) Initially, this was done by hiring an abstractor to
search for the documents affecting the title to the land in question and
an attorney to opine on their meaning under the law, and this is still
done in some places. However, this procedure has been found to be
cumbersome and inefficient in most of the US. Substantial errors made
by the abstractor or the attorney will be compensated only to the limit of
the financial responsibility of these parties (including their liability
insurance). Some errors may not be compensated at all, depending on
whether the error was the result of negligence.[1] The opinions given by
attorneys as to each title are not uniform and often require time
consuming analysis to determine their meanings.
Title insurers use this recording system to produce an insurance policy
for any purchaser of land, or interest in it, or mortgage lender if the
premium is paid. Title insurers use their employees or agents to
perform the necessary searches of the recorders' offices records and to
make the determinations of who owns the title and to what interests it is
subject. The policies are fairly uniform (a fact that greatly pleases
lenders and others in the real estate business) and the insurers carry,
at a minimum, the financial reserves required by insurance regulation to
compensate their insureds for valid claims they make under the
policies. This is especially important in large commercial real estate
transactions where many millions of dollars are invested or loaned in
reliance on the validity of real estate titles. As stated above, the policies
also require the insurers to pay for the costs of defense of their insureds
in legal contests over what they have insured. Abstractors and attorneys
have no such obligation.
Discount
Title Insurance Agency
-----------LLC-----------
Title Insurance Agency
-----------LLC-----------
| About Us |
Thank you for taking the time to learn more
about our company. At DTIA, we operate a
customer based agency aimed at providing
its clientel the satisfaction they desire in title
insurance and escrow closing. In each
individual, group, or commercial situation,
our team will seek to dispel uncertainty, fear
and distrust and replace them with
assurance and companionship. Applying
rigorous energy, experience and
resourcefulness to every policy, our
members are dedicated to your success.
about our company. At DTIA, we operate a
customer based agency aimed at providing
its clientel the satisfaction they desire in title
insurance and escrow closing. In each
individual, group, or commercial situation,
our team will seek to dispel uncertainty, fear
and distrust and replace them with
assurance and companionship. Applying
rigorous energy, experience and
resourcefulness to every policy, our
members are dedicated to your success.
Arizona
Nebraska
Kansas
Now Serving
And soon...
| Commercial and Residential closings! |
Sheldon Gray, President, has been a
resident of the Kansas City areas for over
30 years and is well established in the
area. He has owned and operated a
community insurance agency for seven
years and has also been involved with real
estate transactions for 10 years. This has
allowed him and members of his agency to
develop relationships with auto dealerships,
churches, real estate investors,
homeowners and tenants in the urban core.
resident of the Kansas City areas for over
30 years and is well established in the
area. He has owned and operated a
community insurance agency for seven
years and has also been involved with real
estate transactions for 10 years. This has
allowed him and members of his agency to
develop relationships with auto dealerships,
churches, real estate investors,
homeowners and tenants in the urban core.
Sheldon Gray
Missouri