Title Insurance Services
in the Black Hills
Sodak Title Is Dedicated to Serving Pennington & Lawrence County, Providing Real Estate Transaction Assistance
Let’s Get Your Real Estate Transaction Moving
What Is Title Insurance & Why Do You Need It?
Title insurance protects against any risks hidden at the time of the property purchase. Any hidden issues could lead to significant financial losses for buyers or even the loss of title to the property.
Your title insurance will pay for defending you against any lawsuits attacking the title as insured, and will either clear up the title problem or pay the insured’s losses. Title insurance is a one-time fee, and the policy remains in effect as long as you or your insured heirs retain an interest in the property.
Title insurance is issued only after a careful examination of public records. The most thorough search cannot eliminate all risks despite the knowledge and experience of professional title examiners. Hidden risks may exist that are not reflected in the public record. These risks necessitate title insurance.
Types of Title Insurance We Provide
SoDak Title offers three types of title insurance, each covering different aspects of your transaction.
Standard Lender's Policy
Lender’s title insurance is required on most transactions. The lender’s policy protects the lender exclusively.
As the Lender Protect Against:
- Fraud and Forgery
- Lack of Delivery of a Deed
- Missing or Invalid Signatures
- Legal Incompetence
- Minority of Previous Owners
- Unknown or Undisclosed Heirs
- Errors Made in the Records By Public Officials
- Other Risks Which are Not Discoverable By a Search Of The Public Record
Standard Owner's Policy
Owner’s title insurance protects the property owner against hidden risks during the real estate transaction process.
As the Owner Protect Against:
- Fraud and Forgery
- Lack of Delivery of a Deed
- Missing or Invalid Signatures
- Legal Incompetence
- Minority of Previous Owners
- Unknown or Undisclosed Heirs
- Errors Made in the Records By Public Officials
- Other Risks Which are Not Discoverable By a Search Of The Public Record
Extended
Policy
An extended policy goes above and beyond the protections of a standard policy. Additional steps are taken to protect your new investment.
In Addition to Previous Coverage:
- Mechanic's Liens and Unrecorded Liens
- Unrecorded Easements and Access Rights
- Defects and Other Unrecorded Documents
Common Questions From Our Clients
In South Dakota, the cost of title insurance is typically negotiated between the buyer and seller as part of the purchase agreement. It is common for title costs to be split 50/50, but this can vary by transaction. The team at SoDak Title can help estimate the costs of your specific real estate transaction.
A lender’s title insurance policy protects the mortgage lender’s interest in the property and is required on most financed transactions.
An owner’s title insurance policy protects your equity and ownership rights as the buyer.
Yes. While a lender’s policy is not required without a mortgage, an owner’s title insurance policy is just as important in a cash purchase. Without a lender involved to require it, buyers paying cash are solely responsible for protecting their investment.
Yes. Unlike other types of insurance that require ongoing premium payments, title insurance is a one-time fee paid at closing.
Ready to Get Your Real Estate Transaction Started?
Whether you’re buying, selling, or just exploring your options, our team is here to help. With offices in Rapid City and Spearfish, SoDak Title is ready to guide you through every step of the process. Reach out today and let’s make your next move smooth, secure, and stress-free.
