Fundamentals of Title Insurance, Second Edition - by James L Gosdin (Paperback)

About the Book

"This book is an introduction to the basics of title insurance law and title insurance coverage. This book will provide the real estate lawyer with a broad overview of what title insurance does and does not do, and what the real estate lawyer can ask for. This book is written in a user-friendly manner that provides a basic treatment of title insurance, examples, and practice pointers clearly shown throughout the text. The objectives of this book include a general background of title insurance, the variations and common features of title insurance in the United States, the common types of coverage and issues that the real estate lawyer needs to be aware of, and the standard requests that the real estate lawyer should consider. The material is intended to provide a unique approach that offers a practical guide and series of checklists for the real estate lawyer"-- Provided by publisher.

Book Synopsis

What exactly is title insurance for a property? What does it do? What does it mean? Fundamentals of Title Insurance, Second Edition explains the basic elements of title insurance and gives attorneys and real estate professionals practical knowledge and tools they need to best counsel and protect their clients.

Intended as a broad yet thorough overview, Fundamentals of Title Insurance explains what title insurance means, what it can and cannot do, and what the parties in a real estate deal can ask for in a transaction. Written in an accessible, user-friendly manner, this guide provides examples, practice pointers, charts and checklists throughout the text to explain key points. The author, general counsel for a nationwide title insurance company and a leading industry expert, covers all relevant topics, beginning with a general background of title insurance, its variations and common features, and typical title insurance coverage and issues. Additional topics include:

• What is title insurance, and why should consumers obtain it
• Explanations of the 2006 ALTA Loan Policy and the 2006 ALTA Owner's Policy
• The expanded coverage residential loan policy
• When to secure a short form title policy
• Title insurance requirements of government-sponsored enterprises and agencies, such as Fannie Mae and Freddie Mac
• Regulation of rate and forms
• Types of endorsements and which ones to request
• Marked-up commitments, pro forma policies, and extended coverage
• Closing protection letters
• Guidance for retention limits and reinsurance in commercial transaction
• Specialized title insurance products, guarantees, and other products