Title Evidence...What is it?
In a real estate transaction evidenced of title must be determined. There are two ways. An abstract of title, which is a history of the property going back at least 40 years from owner to owner, and Title Insurance which protects the rights to the interests you are buying.
An abstract of title is a history of the property going back at least 40 years shows information owner to owner, mortgages and discharges of mortgage, liens and any matters that is found within the Marquette County tract indicies. After the history of the property is written the abstract is taken to an attorney for a title opinion. While an abstract is informational it does not provide any protection to the buyer or seller.
Title insurance is assurance to the rights of the property you are buying. A policy of title insurance covers you for costs, attorney's fees and expenses to defend your title as insured, even if challenges to your title appear groundless. (The extent of this defense, of course, will depend upon policy coverage, and what would be reasonable, in consideration of the costs of settlement.) Title Insurance guards against title defects that cannot be determined from the public records. Forgery, undisclosed heirs, mistake in legal descriptions and errors in records or clerical work is just a few of the pit falls.
GREAT NORTHERN TITLE & ABSTRACT, INC., has provided you a quick and easy means of ordering your title evidence. CLICK the Order Form and begin. Questions, please feel free to contact us at firstname.lastname@example.org, we're here to assist.
Great Northern Title & Abstract, Inc.
155 W. Baraga Avenue
Marquette, Michigan 49855
Phone: (906) 228-6100
Fax: (906) 228-4015