Agents for:
First American Title Insurance Co. of New York


Fidelity National Title Insurance Co. of New York

Title insurance is a contract to indemnify against losses arising through defects in title to real estate.

As a rule, a title company will not insure a bad title any more than a fire insurance company will issue a policy on a burning building. However, title companies can sometimes overcome some technical objections that might be raised by a title examination.

In simple terms Aquebogue Abstract Corp. represents that its underwriters agree:

1. To defend your title in the courts, as insured, at its own expense.

2. To correct or clear the title when possible.

3. To promptly pay you for your loss in the event of an unsuccessful defense of your title.

Why Title Insurance?

When you buy a typewriter, a television set, a car, or a thoroughbred, you usually have no need to know whether the former owner is married, single or divorced. You are not interested in whether or not the owner has paid taxes or if there are lawsuits or judgments against the owner.

When you buy a home, though, it is necessary to have all that information...and a great deal more.

Whenever you consider the purchase of real estate, you should be aware that there may be others, in addition to the owner, who could have "rights" in the property you are acquiring. There may be a work contractor, governmental agency, or any number of individuals who have perfectly proper claims against the property.

Many people say: "But I have a deed. Isn't that all I need ?

No. A deed is not proof that the seller actually is the owner. Nor does it contain information regarding the rights others might have in the property.

"Can't I find out about their rights from the public records?"

Yes, most of them. A careful investigation of all matters of record by competent individuals can disclose items such as unpaid taxes, mortgages, easements, restrictions etc. However, all of the necessary information is not contained in a single book,in a given office, or even in the same city. Plus, there could be possible errors in indexing, improper searching, and errors in examination; in other words, the human element. Most of the time, what is not in the public records is what causes title trouble.

Two Kinds of Policies

A bank or mortgage company will require a title policy for its own protection. Their policy protects only the lender.

To protect against the many possibilities of loss due to title defects, a purchaser should purchase an owners title insurance policy.

The cost of the owner's policy of title insurance is small when related to the value of the property.

One, Low Premium

A low, one-time premium is all you pay to obtain the protection and peace of mind of a title insurance policy issued by Aquebogue Abstract Corp. So long as ownership remains in your name or that of your heirs, there is no additional cost. The policy is issued in an amount equal to the purchase price you pay. Of course, the greater the coverage given, the higher the premium.

Title Companies and Abstract Companies

A TITLE INSURANCE COMPANY is licensed and must maintain reserves to cover possible claims. Conditions for this are set by the State of New York Insurance Department.

An ABSTRACT COMPANY or TITLE AGENCY is authorized by one or more TITLE INSURANCE COMPANIES to issue policies under their name.

Whether you use an abstract company or a title company, the premium will be exactly the same as established by the Superintendent of Insurance of the State of New York.

Market Value Policy Rider

A market value rider, when made a part of an owner's policy, insures you for the market value of your home at the time of claim. The cost is an additional 10% of your premium and like all title costs is paid only one time. Should you choose not to obtain this rider you will be asked to sign a statement acknowledging that you were advised of its availability.

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