Developers

DEVELOPERS

BUILDERS & DEVELOPERS

Milligan Reynolds Title Agency is a reputable title company based out of Chattanooga, TN and has been operating since 1938. The title company protects homeowners, builders and developers looking to close on a property by providing expert advice and answers to general closing questions. Moreover, they offer potential property buyers a master title policy and title insurance to protect them from potential litigation or financial losses in the future.

The master title policy shows the builders' and developers' ownership rights to a piece of land, giving them the right to transact or sell the property. The document is issued to the owners during the construction stage. After the potential property owner has been granted permission to build on the land, they will receive the document from the local land office. All divisions and properties constructed under the master owner's policy will belong to the landowner until the lots are purchased.

Home Title Insurance

Moreover, the company also offers both the lenders and owners title insurance. For many people, buying a home is one of the biggest investments in their entire lives. No home developers would want to deal with unexpected problems about the ownership of their homes after completing the transaction. That is where the home title insurance comes in handy. The document protects homebuyers from any financial losses that may arise from a defect in a title to a property. For example, it protects people from the most common claims filed against ownership of a home, including conflicting wills, back taxes, and liens. Additionally, it covers flawed records, ownership by another party, outstanding lawsuits, incorrect signatures on documents, fraud and forgery.

Master Title Policy

On the other hand, a lender requires the borrower to buy a lender's insurance policy before getting a home loan. This particular policy safeguards the lender against damages if the seller cannot transfer title rights. However, the policy covers the lender up to the mortgage amount only. The agency issues the document after a thorough search has been conducted on the title.

Milligan Reynold's company experts do a thorough search on all property titles to check for any liens or claims against them before they can be issued. If you are a potential home or business owner who wants to own a piece of land and avoid future losses, you should consult Milligan Reynold's company for assistance.