Knoxville Real Estate Resource
25 Mar
Crossland Title Tennessee

Knoxville Real Estate Resource

Knoxville Real Estate Resource

Crossland Title, Inc.

Crossland Title, Inc. is fully committed to providing quality products and services to our communities. With more than 36 years of experience in the real estate and title agency business. Owners Pam Rice and Beth Crox have built their reputations upon the virtues of personal service and integrity. They believe that reputation as an honest and reliable business is the recipe for success. They have a knowledge base and support. The staff of Crossland Title, Inc. is more than capable of guiding each client through the myriad of issues surrounding a real estate closing. Crossland Title Inc. seeks the opportunity to continually earn your business. Trust our service-driven, customer-sensitive approach to the title industry.

Frequently Asked Questions

What is Title Insurance?

Title insurance is a form of indemnity insurance. This insures against financial loss from defects in title to real property. Also, from the invalidity or unenforceability of mortgage loans. There are two types of title policies: Owners and Lenders. Lenders require fire insurance. Also, other types of insurance coverage protect their investment. Nearly all institutional lenders require title insurance (lender’s policy). This is to protect their interest in the collateral of loans secured by real estate. Some mortgage lenders, especially non-institutional lenders, may not require title insurance. Buyers purchasing properties for cash or with a mortgage lender often want title insurance to protect their interest as well. A loan policy provides no coverage or benefits for the buyer/owner. Your decision to purchase an owner’s policy is independent of the lender’s requirement for a loan policy.

What will my closing costs be?

Closing costs are best determined by your settlement agent or attorney.  They can give you an estimate as to the actual closing cost.  A loan estimate is also given to you by your lender.  These costs may be a reasonable estimate. They may vary depending on the costs from the service providers in your transaction.

How can title insurance protect me?
Title Insurance policies insure titles to real properties for owners and mortgage lenders. They provide the following protections: a) Payment of loss arising from hidden defects. Defects not found during a title examination or recording. b) Payment of legal expenses incurred to clear title defects. Which threatens the lender or owner with the loss. c) Assurance that the marketability of the property remains unimpaired from title defects.
 
Policies are issued based on a search and review of the public land records. Also, other relevant documents.  A thorough examination is to determine title ownership. Also, any other matters affecting the property title and use of that property.  Items that may affect a title include easements, restrictions, rights of way, and judgment liens.
 
The coverage provided by a title policy is long-lived.  The mortgage holder continues to protect upon foreclosure of the insured mortgage or deed of trust.  The owner of real estate ensures for as long as he or she owns the property. Also, the holder of a purchase money mortgage or deed of trust secured by the property. Also, is liable under the warranties included in his or her deed to convey the property.

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