​Title Insurance Wilkes-Barre, PA

​In fact in just 4 years, Franklin Street Abstract has completed enough transactions that the Title Insurance transactions collected to date have exceeded 1 Billion Dollars.

Often when clients are considering the protections that Title Insurance provides, Franklin Street Abstract is able to deliver piece of mind based on its associations with Nationwide Rated Title Insurance Companies.

Well staffer and nimble, Franklin Street Abstract is able to timely complete all request for title insurance based upon the deadlines requested by clients or their lenders.

Since many transactions include financing as part of the acquisition real estate, or refinancing of existing loan relationships, Franklin Street is able to satisfy all Lender and Owner requirements to facilitate a successful and time sensitive transaction.

Presently, Franklin Street Abstract is guided by Christine Stelmack.

Christine brings over 35 years of industry experience and insight as a partner and co-founder of Franklin Street Abstract, LLC.

Christine’s extensive expertise ranges from multi- million dollar commercial and industrial landscapes to residential dwellings.

As a licensed Title Agent, Christine insures that all transactions comply with local and state law and that all properties are secure in their title and ownership.

Christine works one-on-one with clients or their agents to provide comprehensive title insurance service and guidance tailored to their needs as well the history of the land itself.

Franklin Street Abstract also offers many other real estate related services including title searches, title abstracts, lien searches, ancient document title searches, tax lien searches and other searches requiring an experienced knowledge of the public records recording and archiving process.

If you or your Company need competent, qualified and experienced title insurance services, contact Christine Stelmack or Frank Hoegen at Franklin Street Abstract.

Common Myths About Title Insurance

Homebuyers are advised to invest in title insurance, which protects them against title issues with the home. However, title insurance is still something that is widely misunderstood. If you are considering buying a home soon, it is important to learn the facts about title insurance.

Here are some common myths about title insurance.

• If I pay cash, I don’t need title insurance. If you can pay cash for a home, you don’t need a mortgage loan, so you are not required to buy title insurance. However, that does not mean you shouldn’t. Just because you pay all cash, doesn’t mean that you are not at risk of unknown title defects. If you purchase title insurance, you can protect yourself from huge losses.

• Title insurance requires monthly payments. Owning a home comes with a huge financial commitment. In addition to your mortgage payment, you have to pay taxes, home insurance and maintenance. The thought of adding title insurance on top of that may seem overwhelming. However, you’ll be glad to find out that title insurance works differently than other types of insurance. Title insurance only requires a one-time fee.

• If a title search was conducted, I don’t need insurance. When you buy a home, a title search will be conducted to make sure there are no liens, judgments or other issues with the property. However, title search can sometimes miss things. That is why it is still worth it to invest in insurance.

• If the previous owner owned the house for a long time, title insurance isn’t necessary. If the previous owner lived in the house for many years, you might think that title issues are unlikely to pop up. However, how long someone has owned a home has no effect on title issues. The home can still liens, unpaid taxes and other title defects.

• If I have home insurance, I don’t need title insurance. Some people mistakenly assume that if they have homeowerner’s insurance, title insurance isn’t necessary. However, these insurances protect against different types of claims. Home insurance protects your home from future damage due to storms, theft, vandalism and fires. Title insurance, on the other hand, protects against title issues that occurred before you bought the house.

• Title insurance is too expensive. Buying a home comes with a lot of different costs, so it is understandable that you may be looking to save money in any way you can. However, title insurance is just a small percentage of the closing costs and completely worth the price.

• New homes don’t need title insurance. It is easy to assume that a new home does not need title insurance. After all, if there were not previous owners, what problems could arise? However, the land on which the home is built on isn’t new and could have had several previous owners. That means there’s a risk of property liens, disputed wills and other issues. Purchasing title insurance on a new home is still important. 

Wilkes-Barre Title Insurance

Wilkes-Barre, PA title insurance is a crucial component of real estate transactions, providing protection against potential risks and defects in property ownership. In essence, it serves as a shield, safeguarding the interests of property owners and lenders against unforeseen legal challenges or claims that may arise after the purchase of a property. The professionals at Hoegen & Associates, P.C. can help you.

Defining Title Insurance:

• Title insurance is a type of insurance policy that protects property owners and lenders against losses resulting from defects in the title of a property.
• Unlike other types of insurance that protect against future events, title insurance primarily focuses on risks associated with past events or ownership issues.

Importance Of Title Insurance:

• Title insurance is essential for ensuring a clear and marketable title, which is necessary for transferring property ownership.
• It provides peace of mind to both buyers and lenders by mitigating risks associated with unknown liens, encumbrances, or legal disputes that may affect property ownership.

Coverage:

• Title insurance policies typically provide coverage for a range of risks, including errors or omissions in public records, undisclosed heirs, forged documents, and fraud.
• The extent of coverage may vary depending on the type of policy and the insurer, so it’s essential to carefully review the terms and conditions of the policy.

Types Of Title Insurance:

• There are two main types of title insurance: owner’s title insurance and lender’s title insurance.
• Owner’s title insurance protects the property owner against title defects, while lender’s title insurance protects the lender’s interest in the property.

Title Examination And Underwriting:

• Before issuing a title insurance policy, a thorough examination of the property’s title history is conducted to identify any potential issues or defects.
• Title insurers use this information to underwrite the policy and assess the level of risk associated with insuring the property’s title.

Cost:

• The cost of Wilkes-Barre title insurance varies depending on factors such as the property’s value, location, and the type of policy selected.
• Typically, the premium for title insurance is a one-time fee paid at the closing of the real estate transaction.

Benefits For Property Owners:

• Title insurance provides protection against financial losses resulting from legal challenges or defects in the property’s title.
• It facilitates smooth real estate transactions by ensuring that buyers receive clear and marketable title to the property.

Benefits For Lenders:

• Lenders require title insurance to protect their financial interests in the property.
• Lender’s title insurance ensures that the lender’s mortgage lien is valid and enforceable, providing added security for the loan.

Wilkes-Barre title insurance plays a vital role in real estate transactions by providing protection against risks and defects in property ownership. Whether you’re a property owner or a lender, title insurance offers peace of mind and financial security, ensuring that your interests are safeguarded in the complex landscape of real estate ownership. It’s a valuable investment that can help mitigate risks and facilitate smooth and successful real estate transactions.

Common Questions About Title Insurance Law

Owning property can involve unseen legal issues that may impact its long-term security. Title insurance helps protect both buyers and lenders from potential claims or disputes over ownership. At Hoegen Law, we focus on guiding property owners through the legal process of identifying and resolving issues that can arise from unclear titles, liens, or recording errors. A title insurance lawyer provides the knowledge and legal insight needed to protect ownership rights and address any challenges that may appear after closing.

What Is A Title Dispute, And How Does It Affect Property Ownership?

A title dispute occurs when two or more parties claim legal ownership of the same property. This can result from clerical errors, missing documents, or conflicting deeds. When a dispute arises, ownership may become uncertain, preventing sales, refinancing, or even construction projects. Legal assistance helps determine rightful ownership and clear the title, allowing the property to be legally transferred or used as intended.

How Can I Tell If My Property Has A Title Defect Or Ownership Issue?

A title defect may involve an outdated lien, a mistake in the property records, or an unresolved ownership claim from a prior owner. These issues are typically uncovered during a title search conducted before closing. However, some defects surface after the sale, often through unexpected legal notices or challenges. In these cases, a property title attorney can review the records and take the necessary legal steps to resolve the matter and protect the owner’s rights.

What Are The Most Common Causes Of Title Disputes In Real Estate Transactions?

Disputes often stem from fraud, boundary disagreements, unpaid taxes, or mistakes in public records. In some cases, undisclosed heirs may claim ownership rights years after a purchase. These problems can threaten both residential and commercial property owners. Working with a title insurance lawyer helps prevent future conflicts by addressing potential defects before closing and ensuring all documents are legally accurate and properly filed.

How Long Does The Title Dispute Resolution Process Typically Take?

The timeline varies depending on the nature of the dispute and the parties involved. Some issues can be settled through negotiation, while others require formal legal action such as a quiet title lawsuit. Minor clerical errors might be corrected in weeks, but cases involving multiple claimants or court proceedings can extend several months or longer. A real estate closing attorney can help streamline communication and reduce unnecessary delays in the process.

Can A Title Dispute Stop Or Delay A Property Sale Or Closing?

Yes, a title dispute can delay or even halt a pending real estate transaction. Lenders and buyers typically require a clear title before proceeding with closing. When ownership questions arise, title companies may pause the process until the issue is legally resolved. In such cases, a real estate law attorney can help remove the obstacles, represent the property owner, and work toward restoring clear ownership rights.

Protecting Property Interests Through Title Resolution

Title disputes can cause major delays for buyers, sellers, and investors, but legal guidance helps reduce long-term harm. Our title insurance lawyer provides the guidance needed to address ownership issues, defend property rights, and restore confidence in real estate transactions. For more information on how to protect property investments and resolve title concerns, contact Hoegen & Associates, P.C. to learn more about effective legal solutions for your real estate needs.