The purpose of Title Insurance is to insure the homebuyer and/or lender against loss resulting from undisclosed encumbrances or defects of title to the property. Defects may deal with ownership, usage rights such as easements and restrictions, or deal with monetary encumbrances against the property.

Standard Coverage title insurance insures against defects in record title; this includes things that are filed or recorded in the public record. Losses covered under standard coverage include things like forgery, undisclosed heirs, mental incompetence of grantor, incorrect legal descriptions and lack of legal access to the property.

Extended Coverage title insurance insures against those items mentioned in standard coverage and against defects that would be made clear by a physical inspection of the property. Inspection-disclosed defects might include unrecorded easement rights, unrecorded leaseholds, unrecorded lien rights and survey and boundary questions.

In general, Lenders require Extended Coverage Policies and Owners receive Standard Coverage Policies, often with Homeowner’s Endorsements that increase the coverage to include most, but not all of the Extended Coverage items.

Title Insurance is tightly regulated by the State Insurance Commissioner. Rates and coverages are highly competitive between the eight or so Title Insurers doing business in the Puget Sound Area.

Betsy’s Recommended Title Insurers

Lawyer’s Title Agency of Washington
Shawna Cruikshank, Title Officer
425-637-0193
lawyerstitlewa.com

Chicago Title Insurance
Doug Pittman, Title Officer
206-628-5600
cticnw.com

These title insurers have given me and my clients excellent service over the years. I believe they will also do an excellent job for you. -- Betsy