MILLER & LEIBY
ATTORNEYS AT LAW
Title and Title Insurance Law
Title law covers all aspects concerning title to real property. The owner of real property is generally entitled to full and absolute ownership of the property, free from liens and claims against the property.
As the New York area continues to become more and more densely populated, Title Law is increasingly put into practice. For instance, if your neighbor erects a fence over a portion of your backyard claiming to be the true owner of that portion of the property, you might have a claim against your Title Insurer and you could find yourself becoming involved in a land dispute pertaining to Title Law. If you do not have Title Insurance, you might be compelled to fight such a claim on your own and at your own expense. To protect against such claims, purchasers of real property usually obtain a policy of title insurance.
An owner’s Title Policy covers the owner/purchaser of the property and protects the owner against certain claims; a Lender’s Policy protects mortgagees. It is imperative when purchasing real estate to understand the coverage afforded under a policy of title insurance.
In the example above, you might submit a claim to your title insurer which, upon a determination of coverage under the relevant policy of Title Insurance, would be compelled to defend the claim, and in the case of a loss, compensate the policy holder for the loss.
We are available to assist both owners and lenders in determining what is covered under their title policy, and to represent them should they ever find themselves involved in a title litigation matter.