Protect Your Family and your Assets with Title Insurance

1st Equity National Title and Closing Services

Carina Tom

Executive Vice President & Chief Business Officer

1st Equity National

Title & Closing Services

Carina has been a driving force in building a respected and successful brand in 1ST Equity Title. With 27 years of experience in one of the nation's largest and most successful companies, Carina has earned an impressive reputation in New York for successfully managing complex commercial and residential closings. This success has enabled her to form strong relationships with many of New York's leading developers, real estate firms, national banks, and real estate attorneys.

Aside from her work, Carina is a highly active member of her local community, with involvement in many charities. She is one of the founding members of Pinkie, a nationally recognized 501.03 charity that gives back to a variety of causes. Additionally, she is the founder and leader of several organizations within the real estate industry.

Carina approaches each day with drive and ambition, living by the words of Maya Angelou: "I've learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel."

What is Title Insurance?

Title insurance protects real estate owners and lenders against any property loss or damage they might experience because of liens, encumbrances or defects in the title to the property. Each title insurance policy is subject to specific terms, conditions and exclusions. 

What Is Title?

Simply stated, the title to a piece of property is the evidence that the owner is in lawful possession of that property. 

How does title insurance differ from other insurance?

Insurance such as car, life, health, etc., protects against potential future events and is paid for with monthly or annual premiums. A title insurance policy insures against events that occurred in the past of the real estate property and the people who owned it, for a one-time premium paid at the close of the escrow. 

What does it  cover?

Title insurance protects against claims from defects. Defects are things such as another person claiming an ownership interest, improperly recorded documents, fraud, forgery, liens, encroachments, easements and other items that are specified in the insurance policy. 

Who needs it?

Buyers and lenders need title insurance in order to be insured against various possible title defects. The buyer, seller and lender all benefit from issuance of a title insurance policy. 

Because title insurance protects both home buyers and lenders, there are two types to suit the end user’s needs:

-A lender’s policy is generally required when a lender issues a mortgage loan. The loan policy is usually based on the dollar amount of the loan and it protects the lender’s interests in the property should a problem with the title arise. It does not protect the buyer. The policy amount decreases each year and eventually disappears as the loan is paid off.

-An owner’s policy, purchased at closing, provides coverage for the homeowner. It is usually issued in the amount of the real estate purchase and is valid for as long as the owner or his heirs have an interest in the property. Only an owner’s policy fully protects the buyer should a covered title problem arise with the title that was not found during the title search. Possible hidden title problems can include:Errors or omissions in deedsMistakes in examining recordsForgeryUndisclosed heirs

There are two types of owner’s title insurance policies certified by the American Land Title Association® (ALTA®):

-The owner’s policy protects you from defects and liens in the history of your title through the date and time your deed is recorded in the public records.

-The homeowner’s policy takes your protection to a higher level by providing coverage for many additional risks, including some that might occur after the deed has been recorded. The Homeowner’s policy protects against many common, frustrating problems, and the policy protects your investment for as long as you or your heirs own the property. 

Who pays for title insurance?

State laws and customs vary on who pays for title insurance, but here’s who generally pays for title insurance:

-Home buyers typically cover costs for lender’s title insurance as they are the one who is taking a loan from the mortgage lender.

-The person who pays for owner’s insurance can vary. Sometimes, the seller could pay for the title policy as an offering to help with the sale of their property.

How is a title insurance policy created?

After the escrow officer or lender opens the title order, the title agent or attorney begins a title search. A Preliminary Report is issued to the customer for review and approval. All closing documents are recorded upon escrow’s instruction. When recording has been confirmed, demands are paid, funds are disbursed, and the actual title insurance policy is created. 

What is escrow?

Escrow refers to the process in which the funds of a transaction (such as the sale of a house) are held by a third party, often the title company or an attorney in the case of real estate, pending the fulfillment of the transaction.

What are the title insurance policy types?

The Owner’s Policy insures the new owner/home buyer, and a lender’s policy insures the priority of the lender’s security interest.

About 1st Equity

The company

1st Equity National Title and Closing Services

1st Equity Title & Closing Services is an independent title agency working for you and your customers. Whether you’re dealing with a retail complex, condominium development or single-family home, we have the expertise, resources and people to move your real estate transaction forward.


  • Purchase and Refinance Transactions

  • Single and Multi-Family Residences

  • New Construction

  • CEMA transactions

  • COOP Searches

  • Foreclosure and REO Searches

  • Condominium Development Searches

  • Tax Lien and Judgment Searches

National Coverage

Office: 538 Broadhollow Rd #315, Melville, NY 11747




© Carina Tom The Ultimate Title Girl