Frequently Asked Questions

What if I am unable to attend the closing?

In some cases, a Power of Attorney may be used. Please contact your Mortgage Lender and Title Company for approval and instructions on how to accomplish this.

I am married. Will my spouse have to be on the mortgage and attend the closing?

It is not necessary to obtain the joinder of the non-owning spouse on a purchase money mortgage. The lien of a purchase money mortgage is superior to the marital right of joint possession. Please check with your mortgage lender to be certain of their underwriting requirements. Remember, however, that if the spouse is not signing the mortgage documents, they cannot be on the deed to the property.

Why do I need homeowners insurance?

If you are getting a mortgage on the property, it is a requirement of the lender that you have insurance on the property. Insurance will need to be obtained as soon as possible. Paid receipts are required for closing. If you are purchasing a condominium or townhouse, please check with the Homeowners' Association or Condominium Association to see if insurance is included with the dues.

What is a survey, and why do I need one?

The measurement by a surveyor of real property which delineates the boundaries of a parcel of land. A survey additionally delineates the exact location of all improvements, encroachments, easements and other matters affecting the title to the property in question. Most lenders require a survey as a condition of the loan.

How are title insurance costs calculated?

Title insurance rates and charges are filed and regulated by the New Jersey Department of Insurance. A comprehensive manual governing their applicability is on file and each charge and/or form must be approved before utilization. There is a helpful chart that can be obtained from our office delineating each charge or service. Call our title department for a quotation or a "rate card". The total charge you obtain for an insured transaction should be virtually the same from each licensed agent or insurer.

What do I need to bring to closing?

• Funds for closing in the form of a cashiers or certified check payable to Surety Title Corp.
• Photo Identification: valid state issued driver's license, passport, or state issued identification card
• Your original Homeowners Insurance policy and paid receipt
• Any items required by your lender as a condition of closing that has not already been satisfied.

Can I wire my closing funds to Surety Title?

Funds for closing may be wired to our trust account. Contact our office for wiring instructions.

If my lender gets title insurance for its mortgage, why do I need a separate policy for myself?

The lender's policy covers only the amount of its loan, which is usually not the full property value. In the event of an adverse claim, the lender would ordinarily not be concerned unless its loan became non-performing, and the claim threatened the lender's ability to foreclose and recover its principal interest. And, in the event of a claim, there is no provision for payment of legal expenses for an  uninsured party. When a loan policy is being issued, the small additional cost of an owner's policy is a bargain.

What types of claims, or risks, are generally covered by title insurance?

• Forgery and impersonation;
• Lack of competency, capacity, or legal authority of a party;
• Deed not joined by a necessary party (co-owner, heir, spouse, corporate officer, or business partner);
• Undisclosed (but recorded) prior mortgage or lien;
• Undisclosed (but recorded) easement or use restriction;
• Erroneous or innadequate legal descriptions;
• Deed not properly recorded; and
• Lack of a right of access;

How will I understand the documents I am signing at closing?

Your closing agent will provide a brief description of each document you are required to sign at closing. They are not attorneys and are not authorized to practice law or offer legal advice. You may want to have a lawyer present at your closing. You may also want to ask your lender if they can provide copies of the loan documents prior to the closing for your review.