Title Insurance
A title policy is much like any other insurance contract. You pay a premium to the company providing coverage to insure you against a risk. In the case of title insurance, the risk you are concerned with is receiving a defective title. A defective title can jeopardize your ownership of the land or impair your ability to use it for collateral. In either event, a title defect will cost you money.
Ordering title insurance starts a process which will insure that your title is valid. First, title agents will search all the pertinent records to determine if there are any defects. If problems are found, we will assist you in correcting them before you close. If a problem with your title is overlooked or arises later, your title insurance policy will pay to fix the problem or compensate you for your loss. Your bank will also insist on title insurance; after all, if you don’t have good title when you close, the bank’s mortgage will not be collectable should foreclosure become necessary.
Western Wisconsin Title Services, LLC is an issuing agent for Stewart Title Guaranty Company, First American Title Company, and Old Republic Title Insurance, all are part of the oldest and largest title companies in the country. Please visit Stewart’s website at www.stewart.com for more information.
Closing/Insured Closing and Escrow Services
Once all of the preliminary terms and conditions of the real estate sales contract have been met, the real estate transaction may be “closed”. At closing, the buyer and seller usually meet to exchange the funds agreed upon for title to the real estate. The document that represents the transfer of title from one person or entity to another is the deed. Other collateral ownership and security documents are also routinely executed and exchanged at closing.
Western Wisconsin Title Services, LLC coordinates the parties, the documents and the funds so you can relax knowing that everything is under control. Real estate closings can be held at either the lender’s offices or the title company. Most commonly closing take place at our offices. We have office locations in Durand, Pepin, Alma and Mondovi. Pepin County Abstract & Title, LLC is responsible for coordinating and hosting hundreds of closings each year. To accomplish this, we bring years of experience and the latest technology to the closing table.
Title Searches
This is a review of the real estate title from the time the current owner took title to the present. It will show any liens, judgments or encumbrances attached to the property or levied against the current owner. Most of these searches can be completed within 48 hours.
Abstracts
An abstract update involves updating an abstract from the date of the last certificate of continuance to the present. The abstract continuation will include information from all recorded documents affecting title to the real estate.
Document Retrieval
We also offer express retrieval of documents specifically requested.