Colony Title Group, Ltd.

Maryland Real Estate Title Insurance : MD : DC : VA

Archive for the ‘Colony Title in the Community’ Category

Checkmate: the Do’s and Don’t's of Title Insurance

June 25, 2012, 03:17:25 PM

Title insurance is like a game of chess, you have to make the right move in order to get checkmate.

To a great extent, securing property title insurance is an exercising a simple move in a chess game. Just as if you move your knight into the area of your opponent, title insurance companies refuse to insure properties with a history of legal uncertainties. Accordingly, the title examiner combs the records with an expert eye and identifies any potential problems, such as an unpaid tax assessment or a neighbor’s easement for right-of-way according to property right of way laws. The examiner then issues a preliminary report called a commitment, which lists these defects and informs you of any problems that the seller must correct prior to closing. If the company isn’t willing to cover a particular matter and the seller can’t or won’t correct it, you have a choice whether to live with the problem or bow out of the deal. If a title insurer refuses to write the policy at all, you can bet that the seller can’t give you good title.

 

That’s why it’s important to know not only what your title insurance will cover, but also what it won’t: what scenarios might arise in the future that would challenge your ownership of the property title deed. This chapter offers an introduction to titles, title insurance and various encumbrances that could endanger your ability to enjoy your home.

Founded in 1995, Colony Title Group handles in excess of 2000 real estate closings per year in the central Maryland area. The founder Tee Tillman has over 23 years experience in the title and real estate law fields. Colony handles closings for several lenders, including banks, credit unions and mortgage brokers. Colony is the preferred choice for many real estate brokers in the area.

You can also follow Colony Title on Facebook, Twitter, and LinkedIn.

The Facts and Benefits to Title Insurance

June 16, 2012, 11:11:40 AM

Title insurance is a form of indemnity insurance predominantly found in the United States which insures against financial loss from defects in title to real property and from the invalidity or unenforceable of mortgage liens. Title insurance is principally a product developed and sold in the United States as a result of an alleged comparative deficiency of the U.S. land records laws. It is meant to protect an owner’s or a lender’s financial interest in real property against loss due to title defects, liens or other matters. It will defend against a lawsuit attacking the title as it is insured, or reimburse the insured for the actual monetary loss incurred, up to the dollar amount of insurance provided by the policy. The first title insurance company, the Law Property Assurance and Trust Society, was formed in Pennsylvania in 1853.  The vast majority of title insurance policies are written on land within the United States.

Typically the real property interests insured are fee simple ownership or a mortgage. However, title insurance can be purchased to insure any interest in real property, including an easement, leaser life estate.

Trust Colony Title Associates!

Colony Title specializes in real estate title insurance, real estate settlement services, and real estate closings in Baltimore, Columbia, Maryland, Washington DC, and Virginia. Our staff consists of licensed Title Insurance Agents, Real Estate Agents, Settlement Processors, & Attorneys to handle all of your real estate needs.

If you have questions, the Maryland real estate insurance experts at Colony Title Associates can be reached by calling 410 884-1160 or visit ColonyTitle.com today! Also reach us via Twitter

Climate Change Affects Real Estate:: Real Estate Tips

May 29, 2012, 06:56:37 PM

Most people don’t realize that the price of most properties can fluctuate as much as your area’s climate change. It’s important to be aware of this since climate change can also have an adverse affect on your ROI. Here are some tips on assessing climate change.

Climate Change Affects Real Estate
  • Buyers are Affected: Before you purchase any property, consider the effects of climate change in the area. Climate change can make or break your ROI on your property. This is especially important if you are considering selling it at a much higher price.
  • Climate Change in Area: Before you buy property, carefully check the effects of climate change in your area. Even though there is a cost factor in doing this, this will ensure you get a better return from your investment.
  • Sellers are Affected:  Before you sell any real estate property, make sure you are aware of the effects of climate change in your area. Make sure the buyer is aware of different things that could happen if they buy property in certain area. It’s best to build a great relationship with your client when it comes to informing them fully about their potential purchase. 
  • Adapt Property to Climate Change: It’s highly advised to renovate your home as a way to make it adaptive to climate change. By doing so,  you will not only increase it’s overall value but you also don’t have to spend hundreds of thousands of dollars to do this. In short, it’s a great investment with a powerful return.

If you have questions, the Maryland real estate insurance experts at Colony Title Associates can be reached by calling 410 884-1160 or visit ColonyTitle.com today!

About Colony Title Associates:

Founded in 1995, Colony Title Group handles in excess of 2000 real estate closings per year in the central Maryland area. The founder Tee Tillman has over 23 years experience in the title and real estate law fields. Colony handles closings for several lenders, including banks, credit unions and mortgage brokers. Colony is the preferred choice for many real estate brokers in the area.

Colony Title specializes in real estate title insurance, real estate settlement services, and real estate closings in Baltimore, Columbia, Maryland, Washington DC, and Virginia. Our staff consists of licensed Title Insurance Agents, Real Estate Agents, Settlement Processors, & Attorneys to handle all of your real estate needs.

You can also follow Colony Title on Facebook, Twitter, and LinkedIn.

Sources:

How Does Climate Change Affect Real Estate

 

Colony Title Tennis Tournament

April 19, 2012, 04:38:34 PM

Colony Title Group, Ltd. Founder Tee Tillman has been hosting this tennis tournament for the last 27 years, raising over $100,000 for the R Adams Cowley Shock Trauma Center.

This year’s tournament will take place on Friday, June 1st, with the Women’s Tournament beginning at 9:30am and the Men’s Tournament set to start at 1:00pm.

How the Tennis Tournament Works

  • The entry fee is $100.00, with all the proceeds going to Shock Trauma.
  • Participants, typically ranging in skill level range from 3.0 to 5.0, play 5 rounds (8 games each), with their worst score being eliminated.
  • The top 8 play in the finals.
  • Winners receive 100.00 gift certificates to Princeton Sports, while runners up get 50 gift certificates.

For additional information, please contact Tee Tillman at 410.884.1160 ext. 3007 or visit ColonyTitle.com today!

About Colony Title Associates:

Founded in 1995, Colony Title Group handles in excess of 2000 real estate closings per year in the central Maryland area. The founder Tee Tillman has over 23 years experience in the title and real estate law fields. Colony handles closings for several lenders, including banks, credit unions and mortgage brokers. Colony is the preferred choice for many real estate brokers in the area.

You can also follow Colony Title on Facebook, Twitter, and LinkedIn.