About Us
Principal Settlement is a full service
national title agency that handles both residential
and commercial transactions. Our mission at Principal Settlement is
to create an exceptional experience for our customers
that will provide for the easy and worry free transfer
of property. Principal Settlement has been a premier leader in the
title industry.
In addition, our technology enables the entire Title
Insurance industry to truly “go digital”
by eliminating everyday tasks that can bog down companies
and their valued employees. PSS’s technology
allows participants to order, view documents and receive
email notification on the exact status of their documents.
The program is designed to fit any company’s
needs. We at Principal Settlement will structure our software to be
compatible with your needs.
Principal Settlement is in the business of making your business more
cost effective and manageable.
The Ins and Outs of Title Insurance
Who is Covered By Title Insurance?
The Lender: Title Insurance Covers
the outstanding balance on the mortgage for the lender.
The Buyer: When acquiring a property,
it’s a good idea to have insurance, since it
will give you protection in case there’s a title
claim against your home.
What is Title Insurance?
Title Insurance is a contract to protect an owner
against losses arising through defects in the title
to real estate owned. If a title is insurable, the
company guarantees the owner against a loss due to
any defect in title or expenses in legal defense of
the title, pursuant to the terms of the policy. The
process of examining all relevant records to confirm
that seller is the legal owner of a property and that
there are no liens or claims outstanding.
When is a Title Defective?
There are many possible causes of title defects that
no examination can disclose. That is because they
have never been recorded and thus do not appear in
the abstract. A Title insurance policy protects the
owner against all these hidden risks; those listed
below and many more:
Fraud: False claims of ownership,
forged deeds, wills, signatures, conveyances, instruments,
false representations, false records of all sorts,
illegal acts of trustees, guardians, administrators
and attorneys.
Human Error: Errors in copying, indexing,
recording, errors by administrators, executors, trustees,
guardians, and attorneys; destruction of records.
Improper Deeds and Wills: Deeds by
persons of unsound mind, minors, deeds delivered after
death or without the grantor’s consent; invalid,
suppressed erroneous wills, missing heirs, unsettled
estates.
Liens and Other Rights.
Liens for unpaid estate, income and property taxes,
mechanic’s lien, unpaid mortgages, irregular
court proceedings, defective foreclosures, sewer and
water assessments.
Where Do I Get Title Insurance?
Contact Principal Settlement Services to quickly,
efficiently and accurately process your commitment
and policy.
Why is Title Insurance Important?
It provides you with protection of your property,
and it can save you money, time, trouble – even
your home. When a person buys a car or consumer goods,
they seldom need to know whether the former owner
has paid their taxes or are involved in a lawsuit.
But when a person buys a home, it is necessary to
have all the information and much more. For a while
he or she may own the property, others may also have
rights or prior claims in the same real estate.
How Much Does Title Insurance Cost?
The one time premium is directly related to the value
of your home. It is a one-time expense, paid when
you purchase your home, yet it continues to provide
complete coverage for as long as you or your heirs
own the property.