Saturday, October 27, 2012

Title Insurance purchased from Fidelity National Title Insurance Company

In January 2002 along with partners I entered into escrow on an 80 acre parcel of land in Napa County overlooking the Napa Valley.  This 80 acre parcel was a ridge top parcel with three means of access making it unusual.  The property had two deeded ingress/egress accesses from Mt. Veeder Road in Napa County and a prescriptive easement from Cavedale Road in Sonoma County.  At the time I was both licensed as an architect and a real estate broker in the State of California and had used Fidelity National Title Insurance Company dozens of times for both personal and client transactions and had earned their Gold Client status.  Although none of my clients nor I had ever had need to make a title insurance claim I was confident that Fidelity National Title Insurance Company would protect my interest in my investment from my long term relationship and, for example, what is written on their website:

“We Hope You Never Have A Title Claim
Americans have the future in mind when they buy a house, and they purchase homeowners insurance to help protect that future. But with homeownership comes the need to protect the property against the past, as well as the future.

Title insurance protects a policyholder against challenges to rightful ownership of real property, challenges that arise from circumstances of past ownerships. Each successive owner brings the possibility of title challenges to the property.

When you purchase real property, rely on Fidelity National Title to protect your interests. You’ll be insured by a company backed by a long history of successful title operations.

Rely On Fidelity National Title To Protect Your Investment
Every owner, purchaser and beneficiary, whether by a deed or contract, should have an insured title. The entire investment depends upon the quality of title. If you are buying real estate mortgages, you are paying for a good title and you should see that you have one. If either fire insurance or title insurance is omitted, your security is not complete.

Our title policy protects you against unforeseen defects in title that an abstract or the public records do not show and cannot show…nor any attorney’s opinion includes.

Whether this is your first or fiftieth real estate investment, ask your real estate agent or broker to specify Fidelity National Title during your transaction.

*The statements made on this web page and any page that follows within the Fidelity National Title website are not intended, and shall not be construed to expressly or impliedly issue or deliver any form of written guaranty, affirmation, indemnification, or certification of any fact, insurance coverage or conclusion of law.”

            (From October 26, 2012)

In 2004 I refinanced the property and bought out the equity partners and the escrow was with Fidelity National Title Insurance Company and a new Title Insurance policy was issued.  In the recorded Grant Deed was Parcel Two, Three, Four and Five.  Prior to the original purchase I met with the Title Officer in Napa California who provided me with a parcel map that showed where this easement was and the recorded descriptions from the Napa County Public Records of the easements.