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Home > Property Insurance Coverage > Title Insurance > Titlerun Abstract Corp.
Titlerun Abstract Corp.
TitleRun Abstract Corporation is a leading provider of title insurance industry business information. TitleRun continues its commitment to service by providing the information resources businesses need to make timely and accurate decisions. Backed by industry-leading technology systems, TitleRun delivers efficiency to support your business information needs.
TitleRun Abstract Corporation is soon to become a national agency and already operates in several states with over 10 years of experience in every aspect of the title insurance industry from large commercial and international transactions to high volume domestic applications processing with turn around times second to none. It is extremely important when purchasing or refinancing a piece of property. Yet many consumers are unsure about what title insurance is and what it protects against.
There are two types of title insurances, Lenders title insurance, also called a Loan Policy, and Owner's title insurance. Most lenders require a loan policy when they issue you a loan. The Loan Policy is usually based on the dollar amount of your loan, but can be up to 125 percent of the loan amount. It protects the lender's first priority lien interest in the property should a problem with title arise. The loan policy coverage decreases and eventually disappears as the loan is paid off.
The owner’s policy is always issued in the amount of the real estate purchase. It is purchased for a one time fee at closing and lasts as long as you or your heirs have an interest in the property. This may even be after the insured has sold the property. Only owner's title insurance fully protects the buyer should a problem arise with the title that was not uncovered during the title search. Owner's title insurance also pays for any legal fees involved in defending a claim to your title. Prices and who pays for title insurance vary from state to state. On much of the West Coast, the seller pays the title insurance premium for the buyer. In other states the buyer obtains an Owner's policy on his or her own.
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