Divorce and Title Insurance on Real Property Transactions

At the Orange County Law Office of David Schwarz we have litigated many cases that have dealt with title insurance cases in divorces. Please contact our office at 949 735 9266 or via the web. We can also be reached by email at dpslaw66@gmail.com.

A divorce lawyer will make sure that title insurance is explained and part of any real estate transaction with their clients. Title insurance is a common requirement in real estate transactions. In California, title insurance is obtained in virtually all real estate transactions. The standardized purchase and deposit forms used by real estate brokers include express provisions for the issuance of title insurance as a condition of the purchase. Many lender regulations contemplate the purchase of title insurance in conjunction with the making of a loan secured by a deed of trust or mortgage. It is customary and reasonable that the title of the buyer and the lien priority of the lender be insured as a necessary condition of the conveyance of real property or the making of a loan secured by a lien on real property.5

A Divorce attorney will explain to their clients the benefits of having title insurance in their transactions. In the marketplace, in virtually any arms length transaction, a buyer or lender will not accept a conveyance, or make a loan, without appropriate title insurance coverage, regardless of the actual condition of the legal title.6 The practices of title companies7 have become as important as, or perhaps even more important than, the legal principles governing real property titles, as such. For this reason, title companies have been called the “supreme court on titles to real property.”

At the Orange County Law Office of David Schwarz we will explain how title insurance is different than other types of insurance. Major differences between title insurance and other lines of insurance. Title insurance is unlike most other lines of insurance, such as automobile, health, casualty, and general liability policies. While each of these other types of insurance differ as to the nature of the risk insured, they have three things in common, and each differs from title insurance in all of these respects. First, they all provide insurance against loss caused by a future event, often events not within the control of the insured.

A divorce lawyer will further explain that most people purchase these policies to provide protection against a potential future event. (Title insurance generally insures only as to existing conditions, not future occurrences.) Second, they each provide coverage for a specific term, or period of time, for a set fee; for example, most policy types have terms of one year or less. (Title insurance generally continues as long as the insured retains its interest in the property.)4 And, third, the amount of fee or premium paid for these policies is based on actuarial studies projecting the likelihood that a future event will happen. (Title insurance is priced based on filed and published rates for particular services and policies and usually depends on the value of the insured transaction or interest

At the Orange County Law Office of David P Schwarz we are very experienced with using title insurance on divorce real estate transactions. Please contact our office at 949 735 9266 or via the web. We can also be reached by email at dpslaw66@gmail.com.

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