Sunday, January 20, 2013

Process by which Fidelity National Title issues title insurance to consumers????


So what in the process by which Fidelity National Title issues title insurance to consumers and how does it defend claims??

How is the title actually researched?

When one opens an escrow with Fidelity National Title is it assumed that one will insure the title with Fidelity National Title Insurance?

Who actually "sells" the title insurance to the consumer?

As the only contact, for example, I had contact only with my escrow officer and then when researching the Preliminary Title Report provided to me by Fidelity National Title Company.  So did one of them sell me the title insurance policy?

And my understanding is that the Prelim is an offer to insure.  So why would the escrow and title company prepare an offer to insure for Fidelity National Title Insurance Company?  And why would they accept this?

Doesn't Fidelity National Title Company prepare the Grant Deed?  And wasn't it the legal description in the Grant Deed that Fidelity National Title Insurance Company insures?  If not, what exactly do they insure as far as a written document?

So many questions and so few answers.  As a consumer (for me now with hindsight) don't you think you would like to know how all of this works?  I know I would.

I do not see personally how all of this works is a "trade secret".  It seems perhaps, at least in my case, an effort to keep the consumer in the dark so that the relationship between who prepares and researches the property, who sells the actual title insurance and who and how is it insured a mystery.

At least having gone through everything I have gone through - it is still a mystery to me.