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Enhanced title insurance....

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Senior Contributor

Enhanced title insurance....

Is it worth it to get the enhanced title insurance??  No one has asked me if I want it, but it was on the HUD-1 form.  I am thinking the "enhance" part is not necessary.  

 

Yes to title insurance and no to enhanced title insurance?

Message 1 of 5
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Moderator Emerita

Re: Enhanced title insurance....

I have never heard of enhanced title insurace. I have heard of an owners policy and lenders policy and required endorsements to the title insurance. But I have no clue what enhanced title insurace is, so check with the title co that is using that terminology to see what they are referencing.

 

EDIT:  I just googled it Smiley Happy

This is a chart I found for "enhanced title insurance" - LEFT IS DESCRIPTION, MIDDLE COLUMN IS STANDARD ALTA POLICY AND ENANCED ON THE RIGHT.

 

False impersonation of the true owner of the propertyYesYes
Forged deeds, releases or willsYesYes
Instruments executed under invalid or expired power of attorneyYesYes
Mistakes in recording legal documentsYesYes
Misinterpretation of willsYesYes
Deeds by minorsYesYes
Deeds by persons supposedly single, but in fact marriedYesYes
Liens for unpaid estate, inheritance, income or gift taxesYesYes
FraudYesYes
Post Policy Forgery ProtectionNoYes
Enhanced Access CoverageNoYes
Building Permit ViolationsNoYes
Subdivision Map Act CoverageNoYes
Restrictive Covenant ViolationsNoYes
Mineral Extraction CoverageNoYes
Map Inconsistencies CoverageNoYes
Coverage Extended to Living TrustsNoYes
Enhanced Encroachment CoverageNoYes
Automatic Inflation Protection (up to 125%)NoYes
Message 2 of 5
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Valued Contributor

Re: Enhanced title insurance....

i had no idea that there was an enhanced version.  we were not offered an enhanced option when we closed.  it was just labled as title insurance.

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Message 3 of 5
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Senior Contributor

Re: Enhanced title insurance....

In my many years experience in the industry,  this is the first time I've heard of this. My conclusion is that it's the equivalent to the "supersize" option at McDonald's.  I would not waste money on this option. 

Message 4 of 5
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Moderator Emerita

Re: Enhanced title insurance....

Agree with EZ unless it is a nominal fee (<$25). Find out about the living trust thing though - ask your own attorney if possible. Do you hold your properties in a trust or in your personal name?

Message 5 of 5
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