Title Insurance
Virginia Title Insurance, Explained
Owner's and lender's policies, what title insurance generally protects against, and how it's paid for — the questions Virginia home buyers ask us most, answered in plain English by Locust Grove Title, a Virginia title and settlement company serving residential purchase closings, land, and new construction statewide.
Actual coverage is always determined by the issued policy's terms, exceptions, and underwriting guidelines. This page is general information, not legal advice.
- What is title insurance in Virginia?
- Title insurance helps protect a buyer or lender against certain covered problems with ownership of a Virginia property that existed before closing — subject to the terms, conditions, exclusions, and exceptions of the issued policy and the underwriter's guidelines. Locust Grove Title and Settlements, LLC issues policies through title insurance underwriters, including Fidelity National Title and Stewart Title Guaranty.
- Is title insurance required in Virginia?
- If you finance a purchase, your lender will usually require a lender's title insurance policy as a condition of the loan. An owner's policy is generally optional in Virginia — it is your decision whether to purchase one. We'll explain both so you can make an informed choice.
- What is the difference between an owner's policy and a lender's policy?
- A lender's policy protects the mortgage lender's interest, generally up to the loan amount. An owner's policy protects you, the buyer, generally up to the purchase price. Both are typically issued in connection with closing, but only the owner's policy protects the owner — the lender's policy does not protect your equity.
- How long does owner's title coverage last?
- An owner's policy typically continues for as long as you, or in many cases your heirs, hold an interest in the property, subject to the policy's terms. A lender's policy generally ends when the loan is paid off.
- Do cash buyers need title insurance?
- Cash buyers are not required to buy title insurance because there is no lender requiring it. But paying cash does not remove title risk — a prior lien, a forged deed in the chain of title, or an unknown heir can affect a cash purchase just as easily. An owner's policy is often worth considering for cash buyers.
- What kinds of past title problems can a policy protect against?
- Covered risks commonly include another party claiming ownership, forgery or fraud in a prior deed, errors in the public records, undisclosed heirs, unreleased liens, and certain access issues. Covered claims may also include legal defense costs. Exactly what is covered depends on the specific policy, its endorsements, and its listed exceptions.
- Does title insurance cover every title problem?
- No. Standard policies exclude problems created after closing, certain zoning and governmental regulations, matters an accurate survey would reveal unless additional coverage is purchased, and any exceptions listed in your commitment and policy. Coverage is always controlled by the policy actually issued. We review the exceptions with you before closing. This information is general and is not legal advice.
- How is title insurance paid for?
- Title insurance is a one-time premium paid at closing — there are no monthly payments or renewals. The premium is based on the purchase price and loan amount under rates filed in Virginia. We provide an itemized estimate up front.
- What does a title search look for?
- We examine the recorded land records for the county or city where the property sits — prior deeds, deeds of trust and releases, judgments, tax and mechanic's liens, easements, and restrictive covenants — so issues can be addressed before closing rather than discovered afterward.
- Does title insurance matter for land and new construction?
- Yes. Vacant land often involves access, easement, and boundary questions, and new construction can raise mechanic's lien concerns if contractors or suppliers aren't paid. A careful title search and appropriate coverage matter in both situations, as well as in ordinary residential purchases.
- Can I choose my own title company in Virginia?
- Yes. Under the federal Real Estate Settlement Procedures Act (RESPA), a seller cannot require a buyer to use a particular title company as a condition of sale. Your agent or lender may recommend one, and you are free to choose.
Ready to order title in Virginia?
Send us your ratified contract, or ask us about your specific situation — we're happy to walk you through your options in plain English.
Related: purchase closings · land transactions · new construction closings · title company in Locust Grove, VA