What is Title Insurance?  Do I NEED it?

Title insurance is a policy provided by a licensed NJ Title Company such as University Title that insures the conveyance of clear title on a property that you are purchasing.  This protects you against future claims on the property if any were to arise.  It ensures that there were no liens, claims or any other encumbrances on the property at the time that you took possession.  If you have a title policy in place and a lien or a claim surfaces, like a construction lien or a tidelands claim, which is common here on the Jersey Shore, the title company would be responsible for the costs of clearing that issue up as opposed to the new owner.

Title Search

A title search is a standard routine for a closing attorney to make sure that no other party, other than the selling party has the right to the property.  They will search for personal liens on the owner as well as liens and claims against the property such as the tidelands claims mentioned above.   There can be as many as 15 separate searches all ranging from $25-$200 a search. These are separate from the actual Title Insurance Policy.  As long as no issues arise, the title company can issue a few types of policy's.

For a more detailed list of closing costs, click HERE.

Lender's Title Policy

A lenders's title policy can be required by a lender as a mandatory request while getting a mortgage.  This is issued to the lender in order to protect them from any title issues down the line.  

Owner's Title Policy

This is a policy issued directly to a new owner after a search is done to protect the owner themselves from any defect's in the title after the purchase.  This is not required by law but is highly recommended for all owner's to have in place.  Title Insurance is paid with a one time fee at closing and covers the property as long as that owner holds title to it.  

Other Duties of the Title Company

Depending on your representation, your title company is normally heavily involved in coordinating and scheduling the closing.  They might prepare the Deed and Affidavit of Title along with aid in recording the mortgage and the documents just mentioned.  Many areas in NJ as well as other states only use a title company for closings.  They are an extremely valuable resource and that's why it is important to pick a local title company with a great reputation.

For a list of local professionals please click HERE.

1601 Long Beach Boulevard, Long Beach Township, NJ, 08008, Unit B

• Sold: $1,061,950
• List: $1,099,000
• Square Feet: 2,360
• Long Beach Township

• Beds: 4
• Baths: 3.1
• residential - condo
• Represented: Seller

22 W Tebco Ter, Long Beach Township, NJ, 08008

• Sold: $448,650
• List: $448,650
• Square Feet: 1,440
• Long Beach Township

• Beds: 3
• Baths: 2
• residential - single

22 Virginia AVENUE, Long Beach Township, Ne, 08008

• Sold: $1,330,000
• List: $1,330,000
• Square Feet: 3,100
• Long Beach Township

• Beds: 5
• Baths: 4.1
• residential - single

1903 Bay Terrace, Long Beach Township, NJ, 08008

• Sold: $875,000
• List: $899,000
• Square Feet: 2,240
• Acres: 0.1
• Long Beach Township

• Beds: 4
• Baths: 3.1
• residential - single

204 S Atlantic Ave unit 202, Beach Haven, NJ, 08008

• Sold: $190,000
• List: $199,900
• Square Feet: 439
• Beach Haven

• Beds: 1
• Baths: 1
• residential - condo

304 W 17th St, Ship Bottom, NJ, 08008

• Sold: $349,900
• List: $349,900
• Square Feet: 1,152
• Ship Bottom

• multi - multiple

4 W. Maryland, Long Beach Township, NJ, 08008

• Sold: $227,500
• List: $249,900
• Square Feet: 865
• Long Beach Township

• Beds: 3
• Baths: 1
• residential - condo

102 Atlantis Ave, Stafford Township, NJ, 08050

• Sold: $269,000
• List: $269,000
• Square Feet: 1,996
• Stafford Township

• Beds: 3
• Baths: 2
• residential - single

23 Maplewood Dr, Little Egg Harbor, NJ, 08087

• Sold: $244,000
• List: $249,900
• Square Feet: 1,550
• Little Egg Harbor

• Beds: 2
• Baths: 2
• residential - single

116 Bark Rd, Stafford Township, NJ, 08050

• Sold: $259,850
• List: $259,850
• Square Feet: 2,117
• Stafford Township

• Beds: 4
• Baths: 3
• residential - single

204 S Atlantic Ave unit 103, Beach Haven, NJ, 08008

• Sold: $209,000
• List: $209,000
• Square Feet: 421
• Beach Haven

• Beds: 1
• Baths: 1
• residential - condo

204 S Atlantic Ave unit 300, Beach Haven, NJ, 08008

• Sold: $403,000
• List: $359,000
• Square Feet: 960
• Beach Haven

• Beds: 3
• Baths: 2
• residential - condo

195 John St, Eagleswood, NJ, 08092

• Sold: $154,000
• List: $159,500
• Square Feet: 855
• Acres: 0.3
• Eagleswood

• Beds: 2
• Baths: 1
• residential - single

4412 Gloucester Dr, Long Beach Township, NJ, 08008

• Sold: $1,575,000
• List: $1,729,000
• Square Feet: 2,042
• Long Beach Township

• Beds: 4
• Baths: 2.1
• residential - single

204 S Atlantic Ave unit 104, Beach Haven, NJ, 08008

• Sold: $195,000
• List: $199,000
• Square Feet: 492
• Beach Haven

• Beds: 1
• Baths: 2
• residential - condo

204 S Atlantic Ave unit 203, Beach Haven, NJ, 08008

• Sold: $205,000
• List: $189,000
• Square Feet: 548
• Beach Haven

• Beds: 1
• Baths: 2
• residential - condo

204 S Atlantic Ave unit 102, Beach Haven, NJ, 08008

• Sold: $299,000
• List: $299,000
• Square Feet: 816
• Beach Haven

• Beds: 2
• Baths: 2
• residential - condo

113 Roxie Ave, Long Beach Township, NJ, 08008

• Sold: $1,860,000
• List: $2,000,000
• Square Feet: 2,900
• Long Beach Township

• Beds: 5
• Baths: 3
• residential - single

224 Yeoman Rd, Stafford Township, NJ, 08050

• Sold: $355,000
• List: $359,900
• Square Feet: 2,951
• Stafford Township

• Beds: 4
• Baths: 3.1
• residential - single