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Today is : Wednesday, 10 March 2010
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What is title insurance? Do I really need it?
Owner’s title insurance policies insure your property for as long as you or your heirs have an interest in it and protect against hidden risks that would not be disclosed by a search of the public records, such as:
 
  • Forgery
  • Undue influence on a grantor or executor
  • Undisclosed or missing heirs
  • Wills not properly probated
  • Mistaken interpretation of wills and trusts
  • Mental incompetence of grantors
  • Conveyance by a minor
  • Birth of heirs subsequent to the date of a will
  • Non-delivery of deeds
  • Confusion due to similar or identical names
  • Clerical errors in recording legal documents
 
Title insurance premium is typically a one-time payment, usually paid at the time of closing, and is generally determined by the purchase price of the property. Most lenders will require you to purchase a loan policy of title insurance if you finance your property. However, this policy would only protect the lender in the event of title issues. Purchasing an owner’s title insurance policy simultaneously with the loan policy is an economical way for you to protect your property. Canoe Country Title provides closing services and title insurance throughout Minnesota, however, our primary service area includes northern Minnesota and the communities of Virginia, Hibbing, Ely, Grand Rapids, Bemidji, Cloquet, International Falls, and Duluth. 
 

Speak With A Closing Agent Today

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Where would you like to close?

Our Customers always come first.  We schedule closings at a time and location that is convenient for you.  You can close at your new home or in one of our convenient offices. 

Two North Woods Offices to serve you.

1 E. Chapman Street
Ely, MN 55731
(218) 365-3221  
 
301 N. Broadway Street
Gilbert, MN 55741
(218) 741-2077
 

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