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Title Insurance

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Carolyn Dorazio a Licensed Title Agent in PACarolyn L. Dorazio is a licensed title agent in the Commonwealth of Pennsylvania.  Unless a client requires additional services in a real estate transaction such as review and/or negotiation of the agreement of sale or document preparation, i.e., note, mortgage, deed, right-of-way agreement, subdivision agreement or cooperative agreement, Ms. Dorazio charges for services in the transaction is based upon the all-inclusive rate approved by the Pennsylvania Department of Insurance.

Generally speaking, in a title insurance transaction an attorney’s fees are comparable, or equal to, fees charged by an abstracting company.  A knowledgeable real estate attorney can provide additional value to the client, especially in explaining documents or nuances of the transaction.

Title insurance is a policy, which protects an owner or lender against specific defects in the title to a piece of real estate.  Typical defects would be outstanding mortgages, unpaid real estate taxes, or support liens.  Every policy contains standard exceptions against which no insurance coverage is offered, much like insurance on your residence.  The premium of title insurance is paid only once for an owner’s policy.  Coverage continues until the owner sells or transfers the property.  A policy issued to a lender for a mortgage loan may require title insurance to be issued and paid multiple times if the owner refinances the property.  The premium for each policy is based upon the purchase price of the property or the loan amount, whichever is higher.