Owners Title Insurance Policy: Provides a safeguard for your investment against “unknown title defects”. Title insurance protects you against mistakes or threats that might otherwise result in financial loss to you—including those hidden, or unknown title items. Your title insurance protection is a permanent assurance that your ownership and use will be defended promptly against claims at no cost to you, whether the claim is valid or not.
Mortgage Title Insurance Policy: Protection for the Lender against loss if it is determined that its lien is not valid or is inferior to another lien not shown as an exception to coverage on the policy. This policy is issued in the amount equal to the loan amount.
Leasehold Title Insurance Policy: This policy insures against losses a tenant may suffer in the event a landlord does not own
Escrow Closing Service
Our professional closers are capable of closing all types of transactions. Our escrow officers will prepare a complete closing package with both buyer and seller settlement statements; prorate taxes and rent; and prepare a final closing statement for each party indicating amounts to be disbursed for services and any further amounts necessary to close escrow.
Preferred Title provides construction disbursement for residential and commercial projects. Whether you’re the homeowner, lender, contractor or subcontractor, our job is to make sure each party’s needs are safely met. Our construction draw process is quick and easy. We provide the assistance and documentation necessary to facilitate the process of obtaining the funds from the lender to the payment of the labor and materials, and the receipt of lien waivers. Once we receive a draw request, you can expect disbursement within 24 to 48 hours.
A 1031 Exchange is an exchange of property held for productive use in a trade or business or investment for other “like kind” property. This exchange benefits any taxpayer who has recognizable gains in qualifying property on which he or she will pay capital gains tax. We strongly suggest you consult with your tax advisor to determine the actual tax benefit to you.