Buying in Westfield and hearing lots of title jargon? You are not alone. You want a smooth closing and a clear path to ownership, without surprises after you move in. In this guide, you will learn what title insurance covers in Indiana, how costs typically work in Westfield, how to read a title commitment, and the right questions to ask your title company so you can close with confidence. Let’s dive in.
What title insurance is and why it matters
Title insurance protects you from covered losses tied to past defects in the chain of title. Examples include forged deeds, undisclosed heirs, recording mistakes, or liens that were not cleared before closing. It is a one-time premium that provides protection for covered issues that existed before the policy date. Coverage can last as long as you or your heirs hold an interest, subject to policy terms and exceptions.
In Westfield, growth creates extra moving parts. New subdivisions, HOAs, annexations, and public improvements often lead to easements, covenants, and municipal items that show up in title work. Careful review helps you understand how these affect your use and costs.
Owner vs. lender policies
- Purpose: A lender’s policy protects the mortgage lender up to the loan amount. An owner’s policy protects your ownership interest and equity. Lenders usually require their policy. Your owner’s policy is optional but strongly recommended.
- Policy amount: The lender’s policy equals the loan amount. The owner’s policy typically equals the purchase price.
- Duration: The lender’s policy lasts until the loan is paid off. Your owner’s policy lasts while you or your heirs hold an interest.
- Who pays: Premiums are separate one-time charges. Who pays each policy can be negotiated in the purchase agreement. Local practice varies.
What is and is not covered
Common covered risks include:
- Forged or invalid deeds and conveyances in the chain of title.
- Undisclosed or missing heirs who later claim an interest.
- Errors in recording or indexing public records.
- Recorded liens that were not found or released at closing.
- Defects in legal descriptions or prior conveyances.
Items generally not covered unless endorsed include:
- Zoning or land-use changes after the policy date.
- Environmental contamination.
- Unrecorded easements or boundary issues a survey would reveal without a survey-related endorsement.
- Issues created after the policy date, such as a future mechanic’s lien from new work.
- Rights of parties in possession not shown by public records unless specifically insured.
Common endorsements for Westfield buyers
Endorsements modify coverage for specific risks and add cost. Availability and names can vary by insurer. In Westfield, buyers often consider:
- Survey-related endorsements when boundaries, fences, or improvements matter or when no recent ALTA survey exists.
- Restrictive covenant or HOA endorsements where subdivision documents apply.
- Zoning or municipal lien endorsements when there may be code, assessment, or right-of-way questions.
- Mechanic’s lien or builder-related endorsements for new construction or recent improvements.
Ask your title company which endorsements fit your property and how much they cost.
Title insurance costs in Westfield
Title premiums are one-time costs based primarily on policy amounts. The owner’s policy is based on the purchase price. The lender’s policy is based on the loan amount. In Indiana, insurers file rates and endorsements with the state, and the title company can confirm current pricing.
On your closing statement, you may also see search and exam fees, settlement or closing fees, county recording fees, and endorsement charges. Hamilton County sets recording fees, which are collected at closing. Who pays for owner versus lender coverage can be negotiated.
How to estimate your number
- Ask your title company for a written estimate of premiums and all title-related fees early in the process.
- Request a sample title commitment and a pro forma closing statement that shows who pays each fee.
- Ask about reissue or refinance discounts. If a recent owner’s policy exists, you may qualify for a lower premium.
How to read a title commitment
A title commitment is the insurer’s promise to issue a policy after listed requirements are met. Most Indiana transactions use ALTA-style commitments. Expect these parts:
Schedule A
Schedule A confirms the basics. Look for the commitment effective date, proposed insured, policy type and amount, and how title will vest. Confirm that names, legal description, and amounts are correct. The effective date matters. Items recorded after that date are not covered unless addressed at or after closing.
Schedule B: Requirements
Treat this as your closing to-do list. Common items include paying off existing mortgages or judgments, recording the deed and mortgage, providing tax receipts, and resolving any liens. Ask the title rep who will prepare and record each document and how long each item will take to clear.
Schedule B: Exceptions
These are items the policy will not insure. Review each exception line by line. Typical exceptions include current taxes, special assessments, easements for utilities or roads, subdivision covenants and restrictions, rights of parties in possession, survey exceptions, and the mechanics lien gap. For each item, ask if it can be removed, insured over with an endorsement, or if it carries a meaningful practical risk.
Conditions and endorsements
Review the conditions section and any listed endorsements. Confirm what each endorsement covers and its cost. Make sure recommended endorsements match your property type and plans.
Practical checks
- Look for gaps in the chain of title, quitclaim deeds without context, or estates where probate may be incomplete.
- Confirm that all mortgages, judgments, and tax liens are being released.
- If no recent survey exists and boundaries matter, ask whether to order a survey or request a survey-related endorsement.
Westfield red flags to watch
- Unreleased mortgages from prior owners or out-of-state lenders.
- Recent lot splits, boundary adjustments, or annexations that changed legal descriptions.
- Developer or lender blanket liens that still encumber individual lots.
- Long lists of exceptions for unrecorded rights or items marked uninsurable.
- Missing or incomplete HOA or subdivision documents where you expect them.
Steps to reduce risk before closing
- Request the preliminary title commitment as soon as you are under contract.
- Ask for recorded HOA declarations, plats, and utility easements for your subdivision.
- Order a current survey or discuss an ALTA survey-related endorsement if boundaries or encroachments are a concern.
- Confirm tax status and expected proration with the county offices during closing.
- Work with a reputable title company that handles Hamilton County recordings regularly.
Questions to ask your title company
- General
- Can you provide a written estimate for all title and closing fees, including owner and lender premiums, search, settlement, recording, and endorsements?
- Will you issue both the owner’s and lender’s policies, and who is my settlement agent and escrow holder?
- How much experience do you have with Westfield and Hamilton County recordings?
- Title commitment and exceptions
- Can I review the preliminary title commitment now, including Schedules A and B?
- Which Schedule B exceptions can be removed before closing, and how?
- Are there any outstanding mortgages, judgments, tax liens, UCC filings, easements, or developer liens affecting this property?
- Owner coverage and endorsements
- What does an owner’s policy cover in Indiana, and which endorsements fit this property?
- If I refinance later, are reissue or refinance discounts available?
- Surveys and boundaries
- Is there a recorded survey, and do you recommend a current ALTA survey?
- If no survey exists, what would a survey endorsement cover and exclude?
- Municipal and HOA matters
- Can I review recorded CC&Rs, plats, and any special assessments or municipal liens tied to this lot?
- Are there any noted code enforcement items or pending public projects nearby?
- Timing and closing logistics
- What must be cleared before closing, and who is responsible for each task?
- How soon after recording will the final policy be issued?
- What are your wire instructions and fraud-prevention steps?
- Claims and history
- How do I report a claim, and do you have local counsel for title disputes if needed?
- Fees and payment
- In Westfield transactions, who typically pays the owner’s policy, and is that negotiable?
- What state or county recording fees should I plan for at closing?
The bottom line for Westfield buyers
Your lender’s policy protects the bank. Your owner’s policy protects you. In a fast-growing city like Westfield, careful review of your title commitment, targeted endorsements, and clear answers from your title company help you close with certainty. If you want senior-level guidance through each step, including how title terms affect your purchase and timeline, reach out to The Dakich Team. We will help you navigate the details so you can focus on the home.
Ready to move forward with confidence? Connect with The Dakich Team for local guidance and a smooth, well-managed closing.
FAQs
Do I need an owner’s title policy in Indiana if my lender requires theirs?
- A lender’s policy protects the lender, not you. An owner’s policy is optional but strongly recommended to protect your equity.
How long does owner’s title insurance last for a Westfield home?
- Coverage can last as long as you or your heirs retain an interest in the property, subject to policy terms and exceptions.
Who usually pays for owner vs. lender title policies in Westfield?
- It is negotiable in the purchase agreement. Ask your title company and agent about current local practice and what is customary.
What if my title commitment shows an HOA I did not expect?
- Request the recorded HOA documents and review fees, use rules, and assessments. Ask if any related exceptions can be removed or insured over.
Do I need a new survey to buy a home in Westfield?
- If boundaries, fences, or improvements are a concern, a current survey or a survey-related endorsement may be advisable. Ask your title company what they recommend.
How are Hamilton County recording fees handled at closing?
- The title company collects county recording fees on your settlement statement and pays them when documents are recorded.
