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Typically the only type of title insurance that can be issued on a Co-Op would be a Lease-hold Mortgage Policy that covers the Lender for a Mortgage.

Because the interest in the property is held as shares, an Owner's Policy would not be issued.

However, if purchasing a Co-Op, it would be advisable to have a Report on Title or Title Search done on the property, Co-Op association, etc.

No title insurance is not available on COOP's due to it not being real property, it is considered 'shares' in the coop. Typically though lenders have stricter regulations to clear coops to closing. The UCC (uniform commerical code) would be pulled on the property and all parties involved(sellers and buyers). For example the UCC would be order on any downstate New York COOP properties, the lender then would review for any lien on the property or judgments against borrowers or the sellers. Any adverse judgments then would delay closing until resolved. In the case of New York, if a property is in questions NYC.gov is a good start, you can search all judgments against a property.

Beware, beware, beware. I have personally experienced fraud in the name of Title Insurance for a co-op. A company was promising that they had a waiting buyer, and all the seller had to do was to pay for the title search in advance. Unfortunately, these sellers were so enthralled with the idea of selling, that they actually wire money in advance to this company, and that was the end of their money, contact, and the sale. I've seen it happened to well-educated attorneys as well as countless well-meaning men and woman. If I can express one thing emphatically, its never to pay any closing or title related fee up front. Also remember things have to feel right when they are truly easy.

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โˆ™ 2015-07-16 18:58:26
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Q: Can you get title insurance for a co-op?
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What does the term title insurance mean?

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No it does not. Lenders Title insurance is a whole other form of coverage


Where can you get title insurance quotes?

You can get title insurance quotes from by doing a search on google or other search engines for title insurance and visiting one of the websites that offer title insurance quotes. There are some companies that will give you multiple title insurance quotes from more than one company by filling out just one form, and there are other companies that offer you one quote from their company. It is a good idea to shop around for title insurance companies and this is a great way to find and compare title companies and title insurance costs.


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Title insurance rates vary depending on if the transaction is a purchase or a refinance


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Where could one find a title insurance calculator?

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Who is the largest title insurance company in the US?

As of 2011 the largest title insurance company by premium volume in the United States is First American Title Insurance Company.


How do you get a title search done?

All of the title insurance underwriter as well as many many title agencies have websites that can direct you to a local agency in your state/county/community. Simply keyword into your web browser: title insurance search, title insurance, or title insurance companies. Many title insurance underwriters and agencies will pop up. A title search or Report on Title is a search and compilation of filed public records. A title insurance POLICY insures against acts & deeds of previous owners up until the time you take title/deed to the property.


Can you buy title insurance?

Title insurance is a specialized type of insurance that is not generally sold by insurance agents. It is usually provided by an attorney and underwritten by a title insurance company who specializes in this type of insurance. The title insurance company relies on statements and work done by the attorney when he does the title search and he has some liability for his work. You can't just decide that you want a title insurance policy anytime. It is usually done when you purchase a piece of property. I suppose that if you wanted to pay for a new title search you may be able to buy a policy at a time other than at closing.


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No. Title insurance only covers the person who purchased the policy. You would need to purchase your own title insurance policy.


Where do you get title insurance?

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Where can you get title insurance quotes for your specific state?

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Where can one learn about title insurance?

You can learn about Title Insurance through your bank, if you are taking a loan out for a mortgage on your house, then you will need to make sure you have Title Insurance. You can also learn about whether you need it or want it through Title Insurance agencies that offer information about this specifically.


Does Florida law require title insurance to transfer a property title?

No, Florida law does not require that title insurance be issued. The only requirement to transferring title, is that a proper deed be recorded. However, having said that, if you are buying a property from someone, title insurance is greatly recommended. Title Insurance is the only thing that protects you in the event you receive a fraudulent title, or you later find out that there are undisclosed liens or encumbrances against the title. I would never buy any property without the protection of a title insurance policy. If, on the other hand, your parents are transferring to you their property, and you already know the history of the title, title insurance would not be needed.


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What has the author Kathleen M Mitchell written?

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