Types of Transactions

TITLE SEARCH

An examination of public records done by a title company to determine and confirm a property's legal ownership/vested owner, to determine any claims on the property, liens or other judgments on the property, the loans on the property and the property taxes due. The search will also provide information such as the history of ownership to the property.

PURCHASE

Cardinal Bay Title will conduct several types of purchase transactions including residential, new construction, commercial, and short sales.  Each transaction is unique and requires a team with focused attention to detail and outstanding communication.    Acting as liaison between the seller, purchaser, lender, real estate agents and other related settlement service providers, Cardinal Bay Title’s goal is to ensure you have a smooth and efficient settlement with the most reliable and comprehensive service.

REFINANCE

If you are looking to refinance your home, put your trust in us that your transaction will be handled with ease. We are more than happy to conduct your refinance at our conveniently located office, in the comfort of your own home or remotely/virtually, using the latest technology and expedient courier and notary services to get you your documents and guide you through the entire transaction at your convenience.

Title Insurance

WHY TITLE INSURANCE?

Title Insurance provides coverage against a loss that could result from liens, encumbrances, or defects to the title of a property. Lenders will typically require a title insurance policy when issuing a mortgage loan to a borrower. Owners have the option to purchase a policy that will protect their interests.

WHAT IS TITLE INSURANCE?

Title insurance for property owners, called an Owner’s Policy, is usually issued in the amount of the real estate purchase. It is purchased for a one-time fee at closing and is valid for as long as the owner or his heirs have an interest in the property. Only an Owner’s Policy fully protects the buyer should a covered title problem arise with the title that was not found during the title search. Possible hidden title problems can include:

  • Errors or omissions in deeds
  • Mistakes in examining records
  • Forgery
  • Undisclosed heirs

Title insurance for mortgage lenders title insurance is called a Loan Policy. Most lenders require a Loan Policy when they issue a mortgage loan. The Loan Policy is usually based on the dollar amount of the loan and it protects the lender’s interests in the property should a problem with the title arise. It does not protect the buyer. The policy amount decreases each year and eventually disappears as the loan is paid off.

WHAT DOES TITLE INSURANCE PROTECT YOU FROM? A LOT.

There are few things in life more important than protecting your home. The following matters are examples of why you need a title insurance policy. Remember that the best title examination or search cannot protect your equity and home from matters not appearing in the public records. However, a Cardinal Bay Title policy* can protect you from:

  • Documents executed under false, revoked or expired powers of attorney
  • False impersonation of the true land owner
  • Undisclosed heirs
  • Improperly recorded legal documents
  • Prescriptive rights in another not appearing of record and not disclosed by survey
  • Failure to include necessary parties to certain judicial proceedings
  • Defective acknowledgements due to improper or expired notarization
  • Corporate franchise taxes as liens on corporate real estate assets
  • Gaps in the chain of title
  • Mistakes and omissions resulting in improper abstracting
  • Forged deeds, mortgages, wills, releases of mortgages and other instruments
  • Deeds by minors
  • Deeds which appear absolute, but which are held to be equitable mortgages
  • Conveyances by an heir, devisee or survivor of a joint estate who attempts to attain title by ill-gotten means
  • Inadequate legal descriptions
  • Conveyances by undisclosed divorced spouses
  • Duress in execution of wills, deeds and instruments conveying or establishing title
  • Issues involving delivery of conveyancing instruments
  • Deeds and wills by persons lacking legal capacity
  • State inheritance and gift tax liens
  • Errors in tax records
  • Demolition and substandard building liens
  • Administration of estates and probate of wills of missing persons who are presumed deceased
  • Issues of rightful possession of the land
  • Issues concerning the rightful conveyances by corporate entities

*Subject to certain limitations set forth in the policy.

  • Deeds and mortgages by foreigners who may lack legal capacity to hold title
  • Legal capacity of foreign personal representatives and trustees
  • Issues involving improper marital status
  • Improper modification of documents
  • Rights of divorced parties
  • Conveyances in violation of public policy
  • Misinterpretation of wills and ancillary instruments
  • Deeds by persons falsely representing their marital status
  • Claims by creditors of decedent against property improperly conveyed by heirs and devisees
  • Issues concerning unlawful takings by eminent domain or condemnation
  • Special tax assessments
  • Real estate homestead exceptions
  • Forfeitures of real property due to criminal acts
  • Issues concerning adoption of children
  • Conveyances and proceedings affecting rights of military personnel protected by the Soldiers’ and Sailors’ Civil Relief Act
  • Issues concerning interests noted in financial statements filed under Uniform Commercial Code
  • Interests arising by deeds of fictitious parties
  • Adverse possession
  • Lack of jurisdiction or competency of persons in judicial proceedings
  • Community property issues
  • Utility easements
  • False affidavits of death or heirship
  • Intestate estates
  • Probate matters
  • Federal estate and gift tax liens