Title insurance is your assurance that title to your property
is free and clear of anything that would hinder your ability to sell or borrow against your property.

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Related Posts How a Title Policy is Made General vs. Special Warranty Deeds

What is Title Insurance?

Who Needs Title Insurance?

This unique form of insurance protects you from past events. These could be unpaid debts, misinterpretation of instruments (like wills and deeds), forged documents, undisclosed heirs, judgments against previous owners.

An Owner’s Title Policy can protect you from unforeseen problems that limit your use and enjoyment of the property and bring financial loss. Only an Owner’s Policy fully protects you should a covered title problem come up that was not found during the title exam.

Most mortgage lenders require you to pay for a Lender’s Policy, which insures the validity and position of their lien, and protects them for the amount of the loan.

Talk to an Independent Title Agent about your Title Insurance options

Comparing Special Warranty Deeds to General Warranty Deeds.

In Colorado, the Contract to Buy and Sell Real Estate has historically favored the use of a General Warranty Deed. As of January 1, 2019 the default under the Contract is a Special Warranty Deed. While there are some differences, do not be afraid to use a Special Warranty Deed.

Special Warranty Deed As a seller you only warrant against defects occurring during your ownership. Why should you warrant for problems created by prior owners?

Related Posts How a Title Policy is Made What is Title Insurance?

General Warranty Deed

As a seller you warrant against all defects back to Patent (1876 in Colorado). No matter how long you owned the property, you are potentially liable to the buyer and all future owners for all past defects occurring on title.

Your title insurance policy protects you against defects that arose prior to your immediate seller’s period of ownership. Don’t forget, you will one day be a seller and do not want to be liable for defects that arose prior to your ownership.

That’s what title insurance is for.

Both Special and General Warranty deeds guarantee that:

Talk to an Independent Title Agent about your Title Insurance options

The Life of a Title Order. 

Many buyers receive a Title Policy after closing. Much important work has been done behind the scenes to protect your interest in the new property. This simple infographic can help you understand how a title policy is made.  

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Related Posts What is Title Insurance? General vs. Special Warranty Deeds

A Special Offer for ATGF Agents.  

One of the real joys of the Holiday Season is the opportunity to say thank you and wish you the very best for the New Year.  We are incredibly grateful to all of our agents who helped make 2018 one of our best years to date.  Instead of seasonal cards or boxes of chocolates, this year ATGF has adopted local families that need a little extra help making this Christmas special. Indeed, today the office is full of the sound of presents being wrapped by our team.

ATGF’s first ever Adopt-a-Family initiative is a by-product of a fundraising event the company conducted last summer for HomeAid Colorado. HomeAid connected ATGF with its partner organization Foster Source, “where we found two beautiful families who could use a little help this year,” says Devin Storms, Agency Manager at ATGF, Inc.

Foster Source supports foster parents to begin the healing process in vulnerable children. Most of their client­–foster parents have three or more children. Some take in many more.

How many? One of the two ATGF is supporting has ten children! They range in ages from 1 to 20. The other family has six, ages 2 to 18. 

ATGF wanted to make a real difference one on one with these kids, so we asked some questions to learn more about them. We had so much fun shopping for them, but nothing compares to the joy and the smiles we saw when we delivered those presents to the families. “ATGF is pleased to have helped bring smiles to these beautiful families’ faces,” says Mrs. Storms.  In fact, several ATGF employees contributed personal funds to make sure that everyone received something really special.

It really is better to give than to receive.

ATGF Agents,  

Do you have Halloween Spirit? We want to see it! Send us pictures of your Decorated Office, Costumes or Jack O’ Lanterns. The 5 most creative, spookiest and fun submissions will get a prize.  We are decorating our office and are looking forward to seeing what you all come up with.

ATGF is excited to announce our expansion into Arizona, with the addition of Tyrone “ TJ” Johnson as State Agency Manager. In addition to Arizona, TJ will be serving our agents in Minnesota and North Dakota.

TJ has served the title insurance industry since 1996, spending the first 20 years of his career working on the independent agent side of the business where he was very fortunate and eager to learn all aspects of agency operations. During that time he rose to the position of Operations Vice President, with executive oversight of a multi-office, statewide operation, personnel and administrative functions and business development and regulatory compliance. Later, he served as a State Agency Manager overseeing a three state territory for a major national title insurance underwriter. From these leadership positions he was able to further enhance company brand awareness and long term financial success.

TJ’s true passion is spending time and consulting with independent title agents, learning about their business operations and finding ways to help them achieve their goals. In his new role he will have an opportunity to develop relationships and new lines of business, while building upon and strengthening existing partnerships.

ATGF is excited to add TJ and his knowledge and expertise to our team!

The owner’s policy has five sections: covered risks, the exclusions from coverage, Schedule A, Schedule B and the conditions.

1. Covered Risks

This section lists what kinds of risks the policy insures against. However, the policy makes it clear that the insurance of the listed risks are subject to (1) the Exclusions listed following the Covered Risks, (2) any exceptions listed in Schedule B, and (3) the Conditions.  In the most current ALTA Owner’s policy, there are ten covered risks listed in the policy.  Some of the most important covered risks are:

1.    the risk that someone else owns your property

2.    that there is some defect or encumbrance on your title caused by fraud or forgery

3.    any liens for real estate taxes or assessments that are due but unpaid

4.    that your title is unmarketable, that is, you are unable to sell your property to a purchaser because of a title defect

5.    right of access to and from your land.

Review your owner’s policy or ask your title agent about the covered risks included in your policy.

2. Exclusions

Exclusions limit the coverage of the policy. They deal with issues that are outside the control of the title company. The ALTA owner’s policy contains five exclusions, which include matters such as governmental regulations on the land and eminent domain, as well as title matters created or agreed to by the insured, or title defects known to the insured but not disclosed in writing to the title company prior to the date of the policy.  The policy does not insure against any defect or title issue that is created or attaches to the property after the date of the policy.  Also, the policy does not insure against the effects of bankruptcy law on the transaction creating the insured interest.

3. Schedule A

Schedule A sets forth the specific information on the title and policy, such as the date of policy, the amount of insurance, the insured, the legal description of the land insured by the policy and the estate insured, such as fee simple or leasehold.  Schedule A must be attached to the policy in order for the policy to be valid.

4. Schedule B

Schedule B lists the various exceptions to the title that the title company found when it performed its title search. Common exceptions would be things such as prior unreleased mortgages on the property, easements, taxes, restrictions on the use of the property, and any other limitations on the title such as homestead rights or survey issues if no survey has been performed. By listing various items as exceptions, the title company is telling the insured that these items are not covered by the title policy, and that the title company will not pay a claim or defend against a claim based on these excepted items.

5. Conditions

This section outlines the relationship between the insured and the title company.  Paragraph 1 contains the definitions of certain terms used in the policy. Terms such as “Insured,” “Insured Claimant,” “Knowledge” and “Public Records” are defined so as to eliminate any ambiguity.  There are several different paragraphs setting out how a claim under the policy is handled, including how to provide notice of a claim, what is required to prove loss, and the requirement that the insured must cooperate with the title company in the handling of the claim. The Conditions describe the rights of the title company to pay or settle the claim, and the determination, extent and limitation of liability. Most policies also contain a paragraph that allows the insured or the title company to demand arbitration if the amount is under $2 million.