Frequently Asked Questions

BUYING/SELLING A HOUSE OR REFINANCING

What is a title search?

The information from a title search provides the foundation of a successful real estate transaction. It includes an examination of title documents and records, filed in the Office of the Town Clerk of the town in which the property is located, in order to determine whether title to the property is marketable. i.e. whether there are any defects in the title. In Connecticut there are 169 towns or cities each having their own town hall. This makes title searching in Connecticut a very time consuming task as opposed to other states in which the title documents are kept in the County Registry of Deeds.

What is title insurance?

Title insurance protects you from losses that occur from various matters affecting title to land. There are two basic types of policies: Owners' policies to protect the owner, and Loan policies to protect the bank's mortgage. The policy is issued by a title agent representing a title insurance company. Connecticut is one of the few states requiring licensed attorneys to serve as title agents.

I paid for a title search - why do I need to buy title insurance also?

A title policy insures against many defects which could not be discovered in a title search, as well as insuring against errors in the title search itself.

What is a closing/Settlement?

The "closing" or "settlement" is the actual purchase and sale of the property or when referring to a refinance the date the mortgage documents are signed.