Iowa Title Guaranty owner coverage provides assurance to owners that their property interest is free from certain title defects, liens and encumbrances, as defined by the terms and conditions of the certificate. The owner certificate protects owners from potential financial losses associated with the covered risks.
A title defect refers to any error, omission, or other complication that precludes the sale of the property, including but not limited to the following:
• Undisclosed liens
• Defective legal descriptions
• Document and execution errors
• Mistakes in searching the public records
• Fraud and forgery
• Paid, but unreleased mortgages
In the event a covered title defect is discovered, Iowa Title Guaranty will work with the owner to resolve the issue. As Iowa’s title coverage provider, Iowa Title Guaranty operates as a title underwriter and maintains reserves to pay covered claims.
Title issues do not happen often, but you will be glad you are covered if they do.