31440 128th Street NW, Princeton, MN 55371
31440 128th Street NW, Princeton, MN 55371
Title Insurance should be purchased on aircraft - it can indemnify a buyer or lender against actual losses that divest them of their interest in the aircraft. That is, the lender is assured of his lien position, and the buyer is assured of ownership rights. In the event of a defective title, intervening liens or any errors insured against, the title insurance company would perfect the title, paying up to the insured amount to clear the title. Federal tax liens, some mechanic's liens, unenforceable bills of sale or security agreements, are just a few examples of undetectable risks that are covered by a title insurance policy.
In the case of a covered claim, title insurance will pay the attorney's fees to defend your title, and if there is a total loss of title, will pay the value of the plane, the remainder of the loan, or the amount of the policy, depending on the circumstances.
We will coordinate with the Title Insurance Company on your behalf.