|
|
 |
| |
|
Home > Property Insurance Coverage > Title Insurance > Elliott & Waldron Title & Abstract Co., Inc.
Elliott & Waldron Title & Abstract Co., Inc.
Elliott and Waldron Title was born in the late 1800's in East Texas and had over 150 locations throughout Texas and New Mexico E&W Lea County was incorporated as Elliott and Waldron Abstract Company in 1929 headquartered at the Northwest corner of central and Main Street, Lovington, New Mexico. Elliott & Waldron also maintained an office in Hobbs, New Mexico.
The original Elliott & Waldron was family owned and the primary business was preparing Mineral Abstracts for the oil and gas industry. Surface abstracts were also compiled to enable an attorney to render an opinion for the sale and or mortgaging of residential and commercial properties.
Beginning in the 1960's title insurance evolved as the preferred method of assurance in property transfers and Elliott & Waldron was appointed as an agent for a National Underwriter to issue policies of title insurance. Due to this evolution, the business of title searching became a more detailed and sophisticated skill. The current title plant enables the staff to examine titles and retrieve specific data in a fraction of the time it once took.
There are numerous problems that can arise when buying a house. A previous owner could have taken out a loan on the property, which would become the new owner's debt. In a separation or divorce, the previous owner could have taken out a mortgage without the knowledge of their partner. A lost heir could appear and stake a claim to the property. Title insurance protects new owners from all of these claims.
If one of these problems occurs and you are without title insurance, you could be forced to move out. You could also legally be required to pay a debt on a house that is no longer yours. If you have fee title insurance, the title company will handle any litigation or payments towards your case. In the very rare case of title loss on your property, the title company can pay you or buy the mortgage from the bank.
Everything you need to know about
Home Insurance is here at
CoverMeHomeInsurance.com
Permission is granted to reproduce this article as long as the above
resource paragraph is left intact with active links.
Back to Title Insurance
|
|
|
|
|
|
|
|