Frequently Asked Questions

What Should I look for in a Title Search?

Listing of current legal owner, mortgages, liens, taxes and assessments, property leases or easements.

What Will My Title Insurance Cost?

Title insurance rates vary from state to state and are calculated on several factors, including location and type of policy.

Does Lender Title Insurance protect the owner?

No. A lenders policy is to protect your mortgage holder against losses during the duration of the loan. A separate owner’s policy must be purchased to protect the owner’s interests.

What Should I Look for in a Title Insurance Company?

Financial stability should be the number factor in choosing a title company. A solid record of financial stability over time will ensure that they will be there when you need them.

Am I Required to Buy Title Insurance?

You are not required to purchase title insurance for yourself, but your lender may require a lenders policy.

Do I Need to Pay a Premium Yearly?

No. An owner’s title insurance premium is a one-time fee that keeps the policy inforce as long as you own the property.

Does a Title Search Prove That a Title Is Good and Clear?

Not always. There may be legal documents that are not filed, forgeries of signatures or other irregularities that are not discovered in a title search.

What Other Services Do Title Companies Provide?

Milligan-Reynolds Guaranty Title Agency Inc. provides title searches and title insurance for both residential and commercial property. We also offer real estate closing services for new purchases and refinances, along with construction funds disbursement for both residential and commercial projects.