Probably not. While the Garn-St Germain Act does state that the transfer of a property into a trust, in very limited circumstances, cannot be used to invoke a mortgage’s due-on-sale clause, the truth is that this exemption does not apply to the great bulk of investor transactions. Investors should be aware of the due-on-sale clause and be prepared in case a loan is ever called due.
While owner’s title insurance is not mandatory, it is highly recommended that investors purchase an owner’s title insurance policy to protect against any potential financial loss should there be an issue with the title to the property. Possible issues include identity theft, liens and judgments recorded just before closing, and mistakes made by the clerk of court – none of which would be disclosed by the title exam and any of which could be financially catastrophic to the investor.
In most cases, your owner’s title insurance policy is issued immediately after closing.
For metro-Atlanta counties, the typical turnaround time for a title exam is usually two to four business days. Counties outside the metro area may take longer, as may any property with significant title issues.
Title orders can be rush ordered and, depending upon the county, the exam may come back the same day.
Title requests can be faxed to us at (770) 817-1013, emailed to us at email@example.com, or made online. Title exams are always ordered the same day you request them.