Buying a home in Fishers is exciting, but the paperwork at closing can feel overwhelming. Title insurance is one of those items that raises questions fast. You want a smooth closing and long-term peace of mind. In this guide, you’ll learn what title insurance is, how it works in Indiana, what to expect in Hamilton County, and how to review your title commitment with confidence. Let’s dive in.
What title insurance is
Title insurance protects you from covered problems with a property’s ownership history that surface after closing. It is different from a home inspection because it insures against past title defects rather than current physical issues.
You pay a single premium at closing. Coverage lasts as long as you own the home for an owner’s policy, or as long as the loan is outstanding for a lender’s policy.
Typical covered risks include things like forged deeds, undisclosed heirs, errors in public records, and prior undisclosed liens. Standard policies have exceptions, such as matters recorded after the commitment date or issues you knowingly accept. You can add endorsements to expand coverage for things like survey matters, access, or plat-related risks. Ask which endorsements are available and worth the cost for your property.
Owner’s policy vs. lender’s policy
Lender’s policy
- Protects your lender up to the outstanding loan amount.
- Usually required if you are financing the purchase.
- Coverage ends when the loan is paid off.
- One-time premium paid at closing.
Owner’s policy
- Protects your equity and ownership rights up to the purchase price.
- Optional under law but strongly recommended so you are protected if a covered defect appears later.
- Coverage lasts as long as you own the property.
- One-time premium typically higher than the lender’s policy because it covers the full purchase price.
Timing and issuance
Your title company completes a title search and issues a title commitment before closing. That commitment lists what is covered and any exceptions that must be addressed. After closing, once the deed and mortgage are recorded, the title insurer issues the final policies. This often happens within days to a few weeks.
Who pays in Fishers
Payment for owner’s and lender’s policies is negotiable in Indiana. Local custom can vary by neighborhood and price point. Some Midwestern markets see seller-paid owner’s policies, but this is not a rule for Fishers. Confirm payment responsibilities in your purchase agreement and review the Closing Disclosure with your agent and title company.
How closings work in Hamilton County
Who handles title and settlement
In Indiana, licensed title and settlement companies usually handle the title search, title commitment, escrow funds, and the closing appointment. They prepare settlement statements, collect and disburse funds, coordinate payoffs, and record documents after closing. Some transactions involve attorneys, but many are handled by title companies that provide end-to-end settlement services.
Recording in Hamilton County
After closing and funding, your deed and mortgage are recorded with the Hamilton County Recorder. Many title companies use electronic recording to speed up the process. Property tax proration is coordinated with the County Auditor and Treasurer based on local timelines and billing cycles.
Common fees and line items
Your Closing Disclosure will list title-related costs. You can expect to see some of the following:
- Title search and commitment fee
- Owner’s title insurance premium
- Lender’s title insurance premium
- Title company settlement or closing fee
- Escrow or handling fees
- Recording fees for deed and mortgage
- Prorations for property taxes, HOA dues, and utilities
Indiana does not have a statewide real estate transfer tax like some states, though county recording fees and any mortgage-related recording fees apply. Ask your title company for a fee estimate early so there are no surprises.
What the title search finds
The title company reviews the chain of title and issues a commitment that names the insured parties and lists exceptions and recorded matters. You may see items such as existing mortgages, liens or judgments, easements, covenants and restrictions, and the legal description. The goal is to identify and cure issues that could affect your ownership or your lender’s security.
Common Fishers title issues and fixes
Typical issues
- Outstanding mortgages or liens, including tax or judgment liens
- Unreleased or improperly released prior mortgages
- Mechanic’s liens from recent construction or renovations
- Easements and utility rights-of-way that affect use
- Survey or legal description discrepancies
- Undisclosed heirs or probate-related claims
- Clerical errors in public records
- HOA covenants and restrictions that guide use
How issues are resolved
- Payoffs and releases are collected at closing to clear mortgages and liens.
- Corrective or quitclaim deeds may fix a name or chain-of-title error.
- Affidavits can address certain minor non-recorded matters when acceptable to the insurer.
- Subordination agreements can adjust lien priority when needed.
- Escrow holdbacks can bridge timing gaps if a release is pending.
- Endorsements may be added to tailor coverage for specific risks.
- Quiet title actions are rare but used when a dispute cannot be resolved by a simple release.
What to expect at the table
Most issues are resolved before or at closing with payoff letters, releases, or corrected documents. If something cannot be completed in time, the closing may be delayed or funds may be held in escrow until the curative work is done. Your title commitment will show exceptions. Review them with your agent and title officer to decide what must be cleared and what coverage you will receive.
Endorsements to consider
Standard title policies include common exceptions. You can often add endorsements that provide additional protection for survey-related items, access, or subdivision and plat matters. Ask your title officer about endorsements such as survey coverage or ALTA 9/5, along with estimated costs and whether they are recommended for your property type.
Your step-by-step checklist
Before you sign
- Confirm in the purchase agreement who pays for the owner’s and lender’s policies.
- Ask your agent what is customary for similar Fishers homes, while noting that customs can vary.
- Select or confirm the title company early so they can start the search and issue the commitment.
When the title commitment arrives
- Read it and schedule a review with your agent and title officer.
- Verify the current owner, legal description, easements, covenants, and all recorded liens or judgments.
- Ask which exceptions must be cured for your owner’s policy to issue.
- Request a list of available endorsements and costs, including survey or access coverage.
- Get an estimate of premiums and related fees, including recording and settlement charges.
At closing
- Sign the deed and mortgage documents if you are financing.
- The closing agent collects funds, pays off existing liens, and disburses to the seller.
- The title company records your deed and mortgage with the county, often electronically.
- Owner’s and lender’s policies are issued after recording. Expect them within days to a few weeks.
Questions to ask
- Who is the underwriter and what is their financial rating?
- Which exceptions must be cleared for my owner’s coverage?
- Which endorsements are available and recommended for this home?
- Who is paying each policy under my contract and local custom?
- What are the estimated premiums and title-related fees?
- How long after closing should I expect my final policies?
- If a lien pops up late, what are the typical Hamilton County solutions and timelines?
After closing: what to keep
- Your owner’s and lender’s final title policies
- Recorded deed and a copy of your closing statement
- Contact information for your title company and escrow officer
Fishers-specific examples to review
- New subdivisions and recent development: confirm that lots, dedications, and covenants were properly recorded.
- Recent construction or renovations: ask the seller for lien waivers to help avoid mechanic’s lien claims.
- Utility easements and rights-of-way: know where they sit since they can affect fencing and outbuildings.
- HOA covenants and restrictions: review how they guide property use and dues. Title commitments usually list the recorded documents, but enforcement details are not insured.
- Property taxes and assessments: review recent statements and confirm any special assessments or deferred amounts.
Bottom line for Fishers buyers
Title insurance gives you confidence that your ownership is protected against covered, past problems. In Indiana and Hamilton County, the process is straightforward when you engage early, review your title commitment, and ask clear questions about exceptions and endorsements. That preparation helps you close on time and enjoy your new home with peace of mind.
Ready to simplify your closing and review your title options with a friendly, expert team? Connect with Unknown Company to schedule a personalized buyer consultation.
FAQs
Is owner’s title insurance required in Indiana?
- Lenders require a lender’s policy for financed purchases. An owner’s policy is optional but recommended because it protects your equity and ownership.
What does a lender’s title policy cover for Fishers homes?
- It protects the lender up to the outstanding loan balance against covered title defects. Coverage ends when the loan is paid off.
Who typically pays for the owner’s policy in Fishers?
- It is negotiable. Some Midwestern markets see seller-paid owner’s policies, but practices vary. Confirm your contract and ask your agent and title company about current local custom.
How are last-minute liens handled at a Fishers closing?
- The title company usually obtains payoff figures and releases before funding. If timing is tight, funds may be held in escrow until the release is recorded.
When will I receive my final title policy after closing?
- Policies are issued after the deed and mortgage are recorded. Expect delivery within days to a few weeks, depending on recording and the title company’s process.
