Tulsa Oklahoma Title Insurance
Colonial Title is a client-oriented and strategically competitive real estate information and transaction management company. Colonial Title offers those of Tulsa and throughout Oklahoma with title insurance and related services that are necessary for settlement by real estate and mortgage companies. We are committed to providing innovative and cutting edge technology based information services, software and efficient solutions to our clients. We will carefully research the chain of title to make sure there are no weak links in the chain of ownership. Our experienced team will work diligently to make sure there are no defects that may create a cloud on title of the property you are purchasing or re-financing. Such clouds on title that can affect your transaction include a forged deed, unpaid taxes or other property liens. We provide experience and proven reliability in standing behind and covering our clients for any claims and/or legal fees that arise out of such title defects.
If you are purchasing a home and need a mortgage, then title insurance is required, because all lenders require title insurance coverage equal to the amount financed. The insurance that is required only protects the lender up to the amount borrowed, but an owner’s policy can be purchased which will also protect your equity as the purchaser for the full value of property. It is always a good idea to purchase an owner’s policy because the additional cost is relatively modest. While issuance of a lender title policy provides assurances that a title search has been done and that no defects on title have been discovered, no search is completely dependable. Thus, an owner policy protects an owner’s equity in the purchased property on the chance that a title defect escapes discovery during the title search.
Defects that are covered by title insurance include those from the time the policy is issued extending back in time indefinitely. The protection provided by an owner’s title policy last as long as you or any of your heirs have any interest or obligation in the property. Any encumbrances or other clouds on title that occur after the purchase of the title insurance policy are not covered by the policy. This means that when you sell your home the new buyer must buy new title insurance which will cover clouds on title that occurred since you purchased your policy when buying the home.
The standard owner’s title policy does not cover clouds on title that arise after you purchase the property. There are many claims that can arise after you have purchased a property including a claim by a sub-contractor that he was not paid by a builder, a mortgage obtained by identity theft or an adverse possession claim as a result of a neighbor building a fence that encroaches on your property. For a small additional fee, you may purchase an ATLA Homeowner’s Policy that will provide security against such title defects.
At Colonial Title, we are committed to providing the highest quality in Oklahoma title insurance services. Our highly trained and experienced staff of professionals look forward to assisting you with all your title and abstracting needs. Our dedication to providing excellent service will make your transaction a magnificent experience. We have been assisting those in the Tulsa area and throughout Oklahoma generally with their title insurance needs for many years and look forward to helping you with your title insurance needs.
