North Carolina title insurance FAQ

Title insurance is a contract that protects the insured against loss from covered defects in the title to a specific property that existed as of the policy date, and pays to defend covered claims. The NC Department of Insurance describes it as protection against losses from defects described in the policy, effective as of the issue date.

An owner's policy protects the buyer for as long as the buyer or their heirs own the property. A lender's policy protects the mortgage lender's lien and shrinks as the loan is paid down. The NC Department of Insurance notes that a lender's policy does not protect you.

No. The NC Department of Insurance says you are not required to buy an owner's policy. Most lenders do require a lender's policy as a condition of the loan.

As long as you or your heirs own the property, and afterwards while you are liable for title warranties you made when selling. You pay the premium once, at closing.

Typical exclusions include problems you knew about or created, government condemnation, zoning and building code violations, restrictive covenants, and boundary or area problems if no survey was provided to the insurer. Your policy also lists specific exceptions found in the title search.

No. NC DOI explains that an owner's policy cannot be transferred to a new owner; the next buyer needs their own policy.

Yes. NC DOI tells consumers they may choose the title insurance company they want and do not have to use one selected by a real estate agent or lender. Tell your closing attorney early, in writing.

No, for a purchase with a federally related mortgage loan. RESPA Section 9, 12 U.S.C. 2608, bars a seller from requiring a particular title company as a condition of sale, and makes a violating seller liable for three times the title insurance charges.

A short form, usually from the closing attorney's office, where you state which title insurance provider you want and often whether you want an owner's policy and what kind.

Ironwood Title Group and 1st Advantage Mortgage Broker LLC are affiliated through common ownership. Federal rules require that relationship to be disclosed, and you are never required to use Ironwood.

Ask why, and decide whether to choose another title provider or, in some cases, another attorney. Your loan officer can confirm whether the lender accepts the provider.

First American Title Insurance Company.

Ironwood is a licensed title insurance agency in North Carolina. Our NC Department of Insurance license number is 300-421-4515. You can check licenses through the NAIC State Based Systems lookup used by NCDOI.

Email orders@ironwoodtitlegroup.com with the property, parties, amounts, lender details, any prior policy and the buyer's preference sheet, or use the order form on this site.

This site covers North Carolina properties only. If your property is in another state, your settlement agent will use a provider licensed there.