• What Is Title Insurance

    Protecting Your Investment

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  • Services

    Processing Title Insurance
    Protection for the home buyer

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    A. Rubenstein

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Welcome to Rubenstein Title

About Us

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Aric Rubenstein

Title Insurance Producer


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aaron Rubenstein

Title Insurance Producer


About RubensteinTitle.com

RubensteinTitle.com is the New Jersey common law trademark, and the world wide web domain name, of Aaron Rubenstein and Aric Rubenstein. Aaron has been a licensed independent title insurance producer in the state of New Jersey since 2008. Aric was licensed in 2013. As independent practitioners, they put all that experience to use everyday with expertise unexcelled in real property transactions.

What Is Title Insurance: Do i really need it?

What is Title?
Before you can understand what title insurance is, you first need to understand what a “title” is. Basically, a “title” is a term that includes all of your legal rights to own, use and sell a piece of land. The title reflects all previous ownerships and transfers, including rights previously granted by other parties, such as mortgages and easements.

What is Title Insurance?
Title insurance is protection against loss arising from issues concerning the title to your property. Before you purchased your home, it may have gone through several ownership changes, as did the land on which it stands. There may be a weak link at any point in that title or ownership chain that could emerge and which could affect your ownership interest in the property. For example, someone along the way may have forged a signature in transferring title or ownership; or there may be unpaid real estate taxes or other liens. Title insurance covers the insured party for any claims and legal fees that arise out of such problems.

Is Purchasing Title Insurance Obligatory?
If you need a mortgage, it is, because all mortgage lenders require such protection for an amount equal to the loan. The insurance lasts until the loan is repaid. As with mortgage insurance, it protects the lender; but you pay the premium, which is a single payment made upfront.

Does Title Insurance do anything for me?
The required insurance protects the lender up to the amount of the mortgage, but it doesn’t protect your equity in the property. For that, you need an owner’s title policy for the full value of the home. Often sellers pay for owner policies as part of their obligation to deliver good and marketable title to the buyer.

Doesn't the Lender Policy Infirectly Protect me?
No, title policies are indemnity policies; they protect against loss, so a lender policy would only cover the lender's loss. Of course, the fact that the insurer issued a policy to the lender indicates that the title has been searched and nothing amiss has been found, but no search is 100 percent dependable. That’s why an insurance policy is issued.
If there are problems with the title, the ownership of your land could be in question. Unpaid taxes, a lien (an unpaid claim) filed by someone who worked on the house, or any of countless other situations could cause a major problem by clouding the title to your property. If your title is not clear, and you did not have title insurance, you may well be responsible for the payment of charges that you had nothing to do with! After spending hundreds of thousands of dollars on the house of your dreams, the last thing you need is to find out some problem with the title puts you at serious financial risk.
Although a thorough examination should identify all title problems reflected in public records, not all of these problems are apparent in public records. Any of the title problems listed here can make your title worthless (and yes, these things DO happen); but an owner’s title policy protects you from financial losses caused by title issues.

Can you provide me with some examples of hidden title issues?
  • There are forged title documents.
  • There are people who claim to have “power of attorney” who don’t really have the legal authority to act for another person.
  • There are deeds delivered after the death of one of the people involved, without the pre-death written consent of the deceased.
  • It is discovered that a will isn’t legally valid.
  • A deed is to, or from, a defunct corporation
  • There are heirs missing or not disclosed in title documentation.
  • Wills were misinterpreted.
  • Deeds were made by people of unsound mind.
  • Deeds were made by minors.
  • Deeds were made by non-citizens.
  • Erroneous reports were furnished by tax officials.
  • Estate documents were executed with key people absent.
  • There is an undisclosed divorce of a spouse who claims to be an heir.
  • There is a spouse who is supposedly, but not legally, divorced from someone involved in the proceedings.
  • Children were born or adopted after the date of a will that involved the property.
  • Surviving children were omitted from a will that involved the property.
  • Mistakes were made in recording legal documents.
  • Title records were falsified.
  • Creditors make claims against a property that was sold by heirs or other people named in a will.
  • Deeds were made under duress as a last option to avoid foreclosure.
  • Easements (limited rights for other parties to use the land) exist that were not located by a survey.
  • A deed incorrectly identifies public property as private property.
  • There are errors in tax records.
  • There are deeds from a bigamous couple.
  • Representations on legal documents (e.g., notary seals) are invalid or incorrect.
  • The property was condemned but there is no official record of the condemnation.

When does Title Insurance Protection Begin and End?
With the exception noted below, title insurance only protects against losses from claims that arose prior to the date of the policy. Coverage ends on the day the policy is issued and extends backward in time for an indefinite period. This is in marked contrast to property or life insurance, which protect against losses resulting from events that occur after the policy is issued, for a specified period into the future.

For how Long is the Property Owner Purchasing Title Insurance Covered?
Indefinitely. The owner’s protection lasts as long as the owner or any heirs have an interest in or any obligation with regard to the property. When they sell, however, the lender will require the purchaser to obtain a new policy. That protects the lender against any liens or other claims against the property that may have arisen since the date of the previous policy.
For example, if the contractor you failed to pay for remodeling your kitchen places a lien on your home, you are not protected by your title policy; the lien was placed after the date of the policy. You will probably be required to get the lien removed before you can sell the property. In the event the lien hasn’t been removed and a search has failed to uncover it, the new lender will be protected by a new policy.

Will Title Insurance Protect me Against False Claims that Arose after I Purchased the Property?
This is usually protected by an ALTA Owner’s policy. Such policy issuance is crucial since many events beyond your control can reduce the value of your house after you buy it. If it is a newly-constructed house, subcontractors claiming they had not been paid by the builder may place a lien on the house. Identity theft can result in a new mortgage you know nothing about. A neighbor could build on your land without your knowledge, thereby adversely possessing and possibly eventually taking your land; or you may suddenly be told that you must correct a zoning violation of the previous owner.

Does Title Insurance Coverage Rise with Increases in the Value of my Property?
No, but coverage under the ALTA policy referred to above increases by 10 percent a year for the first five years after issuance to 150 percent of the initial amount. You can buy additional coverage as a rider to the policy.
If your policy does not have such a rider and your property has appreciated sharply in value, you may be able to purchase additional coverage on the same policy by paying an incremental fee. The fee should be modest because no new title search is involved. The coverage will only apply to title defects that existed prior to the original date of the policy. To extend the coverage to events that may have clouded the title since the original policy, you would need to take out a new policy with a new search and pay the full rate.

Why do I need to Purchase a new Policy when I Refinance?
You don’t need a new owner’s policy, but the lender will require you to purchase a new lender policy. Even if you refinance with the same lender, the existing lender’s policy terminates when you pay off the mortgage. Furthermore, the lender is concerned about title issues that may have arisen since you purchased the property, such as the lien mentioned in an earlier question. A new title search will uncover the lien and you will have to pay it off as a condition for the refinance.
Insurers generally offer discounts on policies taken out within short periods after the preceding policy. In some cases, discounts are available as far out as six years from the date of the previous policy. Ask for it; it may not be offered if you don't.

Does the Fact that Title Insurance Companies pay out very little in Claims indicate that Title Insurance is Overpriced?
No; it may be overpriced, but not for that reason. Because title insurance protects against what may have happened in the past, most of the expense incurred by title companies or their agents is in loss reduction. They look to reduce losses by finding and fixing defects before the policy is issued, much the same as firms providing elevator or boiler insurance do. These types of insurance are very different from life, property or mortgage insurance, which protect against losses from future events over which the insurers have no control.

Are Title Insurancde Premiums fair to Low-Income Borrowers?
They are probably more than fair. Most title insurance costs arise in preventing loss rather than in paying claims, and prevention costs are not much different for a small policy than for a large one. Despite this, premiums are scaled to the amount of the mortgage or the value of the property, which suggests that smaller policies may be underpriced and larger policies overpriced.

Does Title Insurance Guarantee That I Will Be Able to Sell My Property If An Unforeseen Claim Arises?
No. Title insurance does not prevent loss of marketability due to a title claim any more than fire insurance prevents fire. If a claim arises, you probably won’t be able to sell your property until the claim is settled by the title insurer. The interests of the owner and the insurer may clash in such cases. The owner usually wants settlement immediately, whereas the insurer wants to minimize the cost of settlement, which may require time-consuming negotiations with the claimant.

Does a Borrower Have the Right to Purchase Title Insurance on Her Own?
Yes, although few exercise it. Most leave it up to one of the professionals with whom they deal – real estate agent, lender or attorney – to select the carrier. This means that competition among title insurers is largely directed toward these professionals who can direct business to them, rather than toward borrowers.

Are Title Insurance Premiums Deductible?
Under existing rules, they aren’t. If the tax code was logically consistent, however, premiums paid by borrowers on lender policies – those policies that protect only the lender – would be deductible.


Process Title
Insurance Orders

Liaison Between Title Agency and Lender

Superb Customer Service

What we do:

We will have a notary attend the closing to explain and have the Borrower understand the purpose of each loan document and have them execute same properly. We stand ready to provide capable assistance with the resolution of any last minute title clearance or legal issues that could delay closing. Finally, we research and ensure the issuance of all municipal and state approvals that must be issued before closing. That would include a Certificate of Occupancy or Temporary Certificate of Occupancy, if applicable, or in every conveyance transaction, a Smoke Detector and Carbon Monoxide compliance certificate issued by the municipality. If Bulk Sale reporting applies, we will communicate with the NJ Division of Taxation, Bulk Sale Unit to ensure that either a bulk sale clearance or withholding letter is issued so that if any escrow is required by the NJ Division of Taxation that such requirement is duly provided for on the closing disclosure and ALTA closing statements. You are in capable and trustworthy hands when you engage the title order processing support and closing services of Rubenstein Title!

Contact Us

Aric Rubenstein                                    Aaron Rubenstein
973-442-7870                                          973-442-7870
Aric@RubensteinTitle.com                      Aaron@RubensteinTitle.com
Mailing Address:
93 Meadowbrook Rd
Randolph, Nj 07869