Title, explained plainly.

A title insurance policy protects against covered problems in the property's recorded history that were not discovered before closing - things like an unreleased mortgage, an unpaid lien, a defective prior deed, an undisclosed heir, or a recording error. It is different from homeowners insurance, which covers future damage to the property itself.

A lender's policy protects the lender's interest in the property, up to the loan amount, and is generally required when there is a mortgage. An owner's policy protects the buyer's own interest in the property. A lender's policy does not protect the owner.

A lender's policy will not apply, because there is no lender. An owner's policy is the one that protects the buyer, and a cash purchase does not reduce the risk that something in the property's recorded history could surface later.

The public record for the property is examined - deeds, mortgages, judgments, tax records, plats, estate files and similar sources - to establish the chain of ownership and identify anything recorded against the property that has to be addressed before closing.

The commitment is the written document issued before closing that sets out what the policy will cover, who has to sign, what has to be paid or released, and what the policy will not cover. It is worth reading, and we are happy to walk through it.

Yes. South Carolina requires that a licensed South Carolina attorney supervise a real estate closing. Purple Key is a title agency rather than a law firm; we handle the title search, examination, requirement clearance and title insurance, and we coordinate with the closing attorney and the other parties to the transaction.

In most transactions the buyer or the party paying for the policy has the right to choose. If you would like Purple Key on the file, the request can be made in the contract or passed along to your agent, lender or closing attorney.

It depends on the county where the property sits, the type of property, the length of the chain of title, and what the search turns up. Older parcels, estate files, heirs' property and land transactions generally take longer than a recent subdivision resale. We will tell you what we are waiting on rather than leaving you to guess.

Unreleased mortgages and liens, unpaid property or income taxes, judgments against a prior owner, boundary and easement questions, errors in a prior legal description, and unresolved estate or heirship matters.

The property address and county, the parties to the transaction, the contract or loan information, and a contact for each side. Send what you have through the Order Title link and we will follow up on anything missing.