Title is the owner’s right(s) to possess and use real property.

While the functions of most other forms of insurance are to protect you against losses that arise out of unforeseen future events, the primary purpose of the title insurance is to eliminate risks and prevent losses caused by past events. Based on the search of public records, a title insurance is to eliminate risks and prevent losses caused by past events.

Based on a search of the public records, a title search determines a property owner’s rights. This search includes court, property, and tax records. Additionally, the sellers right to transfer ownership is verified, along with claims, defects or other rights, that may affect the property.

Examples of this would be: unpaid taxes, unsatisfied mortgages, judgments against the seller, and restrictions on the land.

What happens during POST CLOSING?

After settlement, the buyers and sellers job is over. However, Saturn Title will continue working in order to:

  • Audit the settlement and review all documents
  • Comply with the lender’s written instructions in returning their documents
  • Record the deed, mortgage, and other documents with the county
  • Disburse funds as appropriate
  • Issue the title insurance policy and any endorsements required


A closing or settlement transaction is the term for completing a real estate transaction. During closing procedures: deeds, mortgages, leases or other required instruments are signed or delivered. Also, monies are disbursed, recording of all pertinent documents is completed, and accounting parties takes place.

Each party needs to provide official photo-ID (i.e.. driver’s license or passport). If you are required to bring funds to the settlement, they should be in the form of a cashier’s check (made payable to Saturn Title).

Generally a settlement varies in time depending on party and situation; however, a sale settlement usually takes about an hour and a refinance settlement usually takes about 40 minutes.

Settlement statement (HUD) is a summary of the financial portion of the real estate transaction. The HUD lists the purchase price, loan amount, and closing costs for both buyer and seller and shows all pro-rations and sums to be dispersed by the title company to all parties involved.


Title Insurance is a contract to indemnify against losses that may arise through defects in the title to real estate.

A number of events can occur in a year that in turn can affect a properties title. Some of the most common problems covered include:

  • Not filed or unpaid liens
  • Inadequate legal descriptions
  • Mistakes in legal documents
  • Fraudulent deeds, mortgages, etc.
  • Undisclosed or missing heirs
  • Deeds by persons of unsound mind

Saturn Title issues Policies for Mortgage Companies and Owner’s Policies. The Mortgage Companies Policy is usually a condition of the loan and protects the mortgage lender’s security interest in the property up to the value of the policy. The Owner’s Policy covers the purchase price of the property and protects the interest of the real estate owner. When purchasing a property where you are also creating a mortgage, the Owner’s & Mortgage Companies Policies are issued simultaneously. The title premium is based on the greater of the purchase price or the mortgage amount. You will need both types of coverage.

You are covered for as long as you or your heirs own the property. Even though the property may be sold, you may still have a legal obligation by virtue of the warranties in the deed conveying the property. The policy ensures that you would still be in effect.

A deed, simply defined, is a document that transfers the right of ownership from one hand to the other. For example, the property in question may have changed hands countless times since the deed was issued. Also liens and claims that are deemed outstanding against the title will not be shown on a deed.