Property owners and lenders need to be aware that a title insurance company that issued title policies on Indiana real estate and mortgages has been found to be insolvent. On August 20, 2015, the Marion Circuit Court issued its Liquidation Order for National Attorneys’ Title Assurance Fund, Inc. (“NATAF”). As a result, by law, all title insurance policies issued by NATAF terminated on September 19, 2015.
Anyone who has a title policy issued by NATAF and still owns the property or has an outstanding loan should purchase a replacement title policy. In addition, a title search should be performed to determine whether any title defects have arisen. If any claim arises under a NATAF policy, those claims must be filed with the Special Deputy Liquidator by May 1, 2017.
Additional information can be found in the Notice to Policyholders of Liquidation of National Attorneys’ Title Assurance Fund, Inc. and on the Indiana Dept. of Insurance website.
For more information about the NATAF liquidation, title searches, title defects, title insurance claims, or any real estate-related legal topic, please contact Indiana real estate attorney Allison K. Comstock at (812) 423-3183 or acomstock@KDDK.com, or contact any member of the KDDK Real Estate Law Practice Team.
About the Author
Allison K. Comstock, a Partner at Kahn, Dees, Donovan & Kahn, LLP, in Evansville, Indiana, is a member of the firm’s Real Estate Law, Business Law, and Estate Planning and Probate Administration practice teams, utilizing her experience to find practical and successful solutions to her clients’ challenges, and taking the time to understand each client’s situation to provide personalized service. Allison represents businesses and individuals in a wide variety of real estate matters; assists small business owners and physician groups with entity formation, negotiating contracts, and protecting the business owners’ interests; assists individuals in developing their estate plans; and advises executors and trustees during the process of probate and trust administration.