Lauren Bunting Broker MD & DE

LWB Real Estate Report: Title Insurance

Thursday, July 05, 2018, Lauren Bunting

Real Estate Report: Title Insurance 

Most commonly used in the state of Maryland to protect a buyer, and ensure that title to a property is clear and marketable in a real estate transaction, is the purchase of a title insurance policy. Title insurance provides the policyholder protection from losses that may arise from defects in the title.

The Maryland Association of Realtor Contract of Sale calls for title to property to be “good and merchantable, free of liens and encumbrances…”. To be marketable, title must disclose no serious defects; not expose a purchaser to any litigation; and convince a reasonably well-informed purchaser that he/she can sell or mortgage the property at a later time.

It is up to the title insurance company to determine whether or not the title is insurable, based on the results of a title search. A title search is an examination of all the public records done when a property is under contract to determine whether any defects exist in the record of a property’s ownership, also called the chain of title. Title is traced back 40-60 years, and other public records are examined to identify wills, judicial proceedings and other encumbrances, such as taxes or special assessments, that may affect title.

There are different levels of coverage including standard coverage policies and extended coverage policies. Standard coverage policies normally insure the title against items found in the public records, but also hidden defects such as forged documents or improperly delivered deeds for example. Extended coverage policies may include additional protections against defects that may be discovered by property inspection or unrecorded liens not known by the policyholder.

Title insurance policies generally define some exclusions, or items that they won’t insure. These can include items such as zoning ordinances, restrictive covenants, easements, and current taxes and special assessments.

There are two types of policies depending on who is named as the insured. One is called the owner’s policy, and the second is called the lender’s policy. If purchasing a property by way of a mortgage, the lender will require the lender’s policy for the benefit of the mortgage company’s protection.

Lauren Bunting is an Associate Broker with Bunting Realty, Inc.


Lauren Bunting is a Broker with Keller Williams Realty of Delmarva in Ocean City, Maryland.

Go Back

Thank you so much for all of your hard work. We are so excited to move into the perfect house for us, and couldn't have done it without your guidance.

Megan and Brandon Cater

My friend was right, you are the hardest working realtor, bar none. I honestly don't think that I would have gotten through this house selling process without you.

Brenda Burbage

Lauren made first time homebuying extremely approachable, and took the time to educate me on everything involved in the process.

Amanda Hanke and Keri Swigert

Thank you for all of your hard work and dedication that made this purchase possible. You advocate for your clients and I highly regard you for it. You made it possible for me and my family to achieve our goal of homeownership.

Tom Harutyunyan

Thank you so much for the very wonderful, professional job you did with selling our property. You will always be special to me.

Penny Carley

We want to say a sincere "Thank You" for all you've done for us! We know at times the road seemed never ending. Thank you for always staying positive even through our ups and downs of this process. We appreciate all you do!

Mike and Patty Locke

Lauren's extensive knowledge of the local real estate market proved to be invaluable during the purchase of our first home.

Allison Shockley and Patrick Molloy

Lauren is very easy to work with. She has helped me sell and buy homes in the area and has always been hard working and professional.

Jennifer K. Leggour

Lauren went through tremendous lengths to look out for us every step of the way all the way to the very end. If you are in need of a real estate agent who will treat your transaction as if it were their own and provide you with nothing less than A+ service you will be in good hands with Lauren.

Shireen and Mark Ambush

We were referred to Lauren by a good friend, and we couldn’t have been placed in better hands. Lauren went above and beyond in every way, throughout the entire process.

Liz Young

Lauren Bunting was our realtor when we recently sold two homes- one in Maryland and the other one in Delaware. To say we were very satisfied with all she did for us is an understatement!

Janet and Bruce Lathbury

MLS Disclaimer


Top
Contact Me
Realtor logo   Equal Housing Opportunity logo