Title insurance is protection for policy holders from defects regarding the title to their property investment.  In addition, the insurance company agrees to defend you in court if there is a claim made on our title.  It will cover attorney and court expenses or pay a loss caused by a defect in title up to the face value of the policy subject to the terms listed in your policy.  

The owner’s title policy remains in effect as long as you or your heirs own the property or are liable for any title warranties made when the property is sold.

Refinancing has no effect on the owner’s title policy, but most lenders usually require a new lender’s policy with the new loan.  

If you refinance your property withing seven years of the new loan, title companies must issue a discount for the premium from the date of the original loan.

Yes, however, your agent or lender may have recommendations for you.

Yes, rates are set by the Texas Department of Insurance.

Cash or wire transfers, cashier’s, certified or teller’s check, US Treasury Checks.   For a complete list, see rule P-27 in the Texas Department of Insurance’s Basic Manual of Title Insurance. 

Good funds and a valid, unexpired picture ID.

The title agent can not distribute any funds until the funds have been posted into the escrow account and if a mortgage is involved, the title agent has to send all signed documents to the lender for approval and funds can not be distributed until the title agency receives funding approval.  Other factors that can affect when you receive your funds is time of day.  If funding happens late in the day, the cut off time to request a wire transfer may have expired and will have to wait until the following business day.  If your loan is a home equity loan, then proceeds will have a three-day waiting period prior to distribution of funds. 

Various factors that arise during the closing process can cause delays.  Some examples are confirming the contract or lender order has the correct information, are there heirs/will/probate involved, turn around time for requested documentation, if the property is not in our licensed county, scheduling of signers, etc.