Maureen Megowan's Blog


Title Insurance in California

Holding Title

Title can be held in one of several ways. If the owner is single, the title may be held in the name of the individual, or a trust, if applicable. For multiple owners, title may be held as tenants-in-common, joint tenants, community property, or partnerships. For estate planning purposes, title may also be held in the name of the living trust. Each of these forms of title have both advantages and disadvantages for both legal and tax purposes, and should be carefully considered with expert tax and legal advice before taking title. If simply transferring title to a family member, limited liability company, or a family truust, or adding or removing a spouse from title, you would use a quitclaim deed.

Title Insurance

Title Insurance is provided by Title Insurance Companies either to protect a property owner from any adverse claim on their ownership title to the property, or to protect a lenders lien on the property for the amount of their mortgage. Policies for both owners and lenders are written according to guidelines established by either the California Land Title Insurance Association ("CLTA") or the American Land Title Association ("ALTA"), For Southern California, the standard is a CLTA Homeowner's Policy for buyers and an ALTA policy for lenders. The CLTA Homeowner's Policy is a relatively new and enhanced policy, which in addition to insuring ownership of the property, that there is access to the property, that there are no forgeries in the chain of title, and that the insured has marketable title to the policy, also insures numerous other things including coverage for building permit violations incurred by a previous owner, protection against encroachments, and numerous other features. The ALTA policy only insures certain items important to protect the lenders lien on the property. You can visit the website to obtain a competitive cost estimate of title policy fees


This information was obtained from my website at Title Insurance

For more information about Palos Verdes and South Bay Real Estate and buying and selling a home on the Palos Verdes Peninsula, visit my website at . I try to make this the best real estate web blog in the South Bay Los Angeles and the Palos Verdes Peninsula. I would love to hear your comments or suggestions.

Comment balloon 0 commentsMaureen Megowan • March 09 2013 08:43PM
Title Insurance in California
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