Title Insurance
Title insurance provides legal and economical safety to the investment of a real estate property. It is in addition, an instrument which accelerates the process of the transmission of property. On the other hand, it allows and promotes real estate investments since it is an essential requirement for the allocation of mortgage portfolios”
Undoubtedly, any real estate operation can become a hassle and it gets worst when the owner or lender receives a claim for the property. Therefore, Title Insurance is in fact helpful in the real estate market; Title Insurance is materialized and operated like an indemnity contract protecting the rights of the proprietor of a real estate property.
Armour Secure Insurance searches to protect and develop with their products the real estate transactions in the world.
There are different reasons for the title insurance to make sense. The issues listed below are just a few examples that stresses the need for a title insurance policy:
Documents executed under forged, revoked or expired powers of attorney, preemptive rights of another person that are not a matter of record and are not revealed through the inspection, omission of persons considered necessary in certain legal proceedings, Errors and omissions which cause inaccuracies in the title summary, when there is a false assumption of the personality of the legitimate proprietor, legal documents badly registered, omission of the persons necessary for certain legal procedures, errors in the chain of the title of the property, and of course when documents, mortgages, disputes of metes and bounds and other instruments are falsified”.
In addition, the title of property insurance is also made effective when deeds are executed by minors (underage) when transfers by concealed divorced spouses, by questions of legitimate possession of the land, errors in tax records, deeds from persons who make false statements regarding their marital status, among other cases.
Therefore, what the title of property insurance looks for is to guarantee the real estate transaction and for the owner to be and feel safe towards the purchase of the property they are acquiring.
Armour Secure Insurance is synonym of security, truthfulness, service, support and solidity in any kind of real estate transaction.
Claims
Render Title as Insured • The company issued an $11 million owner’s policy to a major retailer, insuring title to land being purchased for development. Expert counsel had been retained to conduct detailed due diligence on the property; counsel rendered a clean opinion as to title; and the official Notario certified title and issued the new deed at the closing. • Days later, the retailer learned that the seller previously had transferred a portion of the property to a public utility. That conveyance was missed both by counsel and the Notario. • Claims Department worked diligently with the retailer, the seller and the utility to resolve the matter, in order to “Render title as insured”. • At its cost, the insurance company was able to arrange for the utility to exchange the subject parcel for land in a different location, and within six weeks, the insured had good title to its entire site and was able to proceed with its development, opening its store on time. Mailing address:
Monte Everest 620Lomas de Chapultepec
11000 Miguel Hidalgo CDMX
Phone: +52 55 9177 0860 Fax: +52 55 5257 1268 carlos.moran@armoursecure.com
Armour’s Senior Management has wide experience in the insurance industry.
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Armour's senior team has more than 100 years of management responsibility .