What About Title Insurance?
Title insurance is a policy that protects against financial loss stemming from problems found in a property's title, or legal ownership.
However, Iowa is the only state that does not allow private companies to sell title insurance. The state has a public title guarantee program. In Iowa, the property abstract is updated and then an attorney's title opinion (title guarantee commitment) is prepared. The program is laid out like this. (From the Iowa Finance Authority) The Iowa Legislature created Title Guaranty to provide guarantees of Iowa real property titles, facilitate mortgage lenders’ participation in the secondary market and to help assure the integrity of Iowa’s land-title system. As a division of the Iowa Finance Authority, Title Guaranty is totally self-supporting. All revenue in excess of operation expenses goes toward home ownership programs for first-time homebuyers. Title Guaranty’s profits are re-invested in the state of Iowa. Title Guaranty offers Commitments, Certificates, and Endorsements that provide low cost title protection for real estate located in Iowa. Title Guaranty issues coverage based on an abstract and attorney title opinion. Once a participating abstractor prepares an abstract, a participating attorney reviews and then issues a title opinion or Title Guaranty Commitment. All Title Guaranty Commitments, Certificates and Endorsements are issued using the industry standard ALTA forms. For a residential transaction, coverage up to $500,000 is just $110 and an additional $1 per thousand over $500,000. Most common endorsements are offered at no charge. For a non-purchase residential transaction such as a refinance or second mortgage, the premium is just $90 for coverage up to $500,000. As of April 1, 2007, Title Guaranty provides FREE Owner’s Coverage when issued in conjunction with Lender’s Coverage. For more information on rates, click onForms and Documents. Once the transaction is complete and new mortgage documents are recorded, the abstract is updated. Then, either the participant or Title Guaranty will issue the Certificate.Get In Touch
Share
Local Expert Updates
Janie Eick
Cell: 712.339.0574
Greg Sheeler
Cell: 712.330.1573
Will Kretsinger
Cell: 712.301.4040Community Updates
Arnold's Bark-ery
This new business to the lakes area is sure to be a hit! Arnold's Bark-ery makes healthy, fresh made snacks for all of the lucky dogs in the surrounding Okoboji area. They also provide natural, and holistic pet foods in their shop. A fun place to bring your dog to shop, as well as a place to get them groomed. What a fun addition to the area!
Boji Tattoo & Piercing
Boji Tattoo is a very welcoming tattoo place in the Lakes Area. Offering very competitive pricing for tattoos and piercings, Boji Tattoo is a great place for your next piece of ink. You can rest assured that Boji Tattoo is a sterile, clean environment. Their needles are a one time use, and all tools are sterilized after each customer. They have extensive tattoo ideas in their shop, as well as body jewelry to buy.
The Ritz
I grew up watching Cheers, if you want that same vibe at the lake, hit The Ritz just south of the bridge. Let alone, Taylor and her staff are the salt of the earth kind of people, the food is amazing! You can tell that a lot of thought has gone into the presentation and you can taste the love in the recipes. Did I mention, they know how to mix a good cocktail as well…..Okoboji style for those who know what I mean! Cold beers, huge glasses of wine, fun kids desserts and the famous Ritz fish bowl. You gotta try it!