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Vacant Virginia Properties with Liens- In Virginia, properties were sold to unsuspecting buyers.

Unfortunately, the sellers weren’t the rightful owners of the properties. Instead, death certificates of the real owners were falsified and the fraudsters appeared at settlement to sign the closing documents. The criminals were caught and the properties were returned to the rightful owners. But what about the unsuspecting buyers? If they had purchased an Owner’s Title Insurance Policy, they would have been covered. However, if they weren’t properly advised to protect their investment, they would not have only been without a home, but also lost their entire down payment.(June, 2013, Home by School,

When purchasing a home and while in the process of obtaining a mortgage you will be reviewing good faith estimates and various mortgage disclosures given to you by your lender. You will see the word “optional” next to the owner’s title insurance line on these standardized forms. The lender will require you to obtain a lender’s title insurance policy to protect their security interest in the property and the cost of that policy is considered a “required” closing cost for the purpose of mortgage disclosure. This is not meant to imply that owner’s coverage should not be seen as important or one that the homebuyer should not consider or need. Only an owner’s title insurance policy will protect the homeowner’s equity and ownership in the event of a title claim. To learn more about owner’s title insurance and how to be protected against the risks like the one described above visit the Resource page cost calculator/title insurance or visit the American Land Title Association’s site .


4545 Daisy Reid Avenue, Suite 100

Prince William, Virginia 22192

703-497-EKKO (3556)

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