Stephen J. Izzi owns Northeast Executive Abstract Agency, Inc., now located in Jenkintown, PA. Stephen J. Izzi founded the company in 1993 to provide title insurance services for buyers, sellers, lenders, agents, and brokers who are purchasing or refinancing real estate.
Title insurance is designed to protect both lenders and buyers in real estate transactions in the event of defects with or liens against a property’s title. The process for obtaining title insurance is actually twofold, and a service provider can ease the process for buyers and lenders.
A title insurance service company must first examine property records to rule out things like fraud, liens, or undisclosed heirs on a deed. Barring any discoveries of this type, the seller is deemed able to sell the property. The company then enlists an underwriter to issue the actual policy. A title insurance policy should be sufficient to pay to defend the holder in a court situation if the title is challenged.