The purpose of title insurance is to eliminate risk. A real estate purchase is a momentous occasion. When you buy a home, you want to be sure that it will be protected against hidden problems with the title that may surface in the future and possibly jeopardize your ownership. Title insurance provides you with the peace of mind of knowing that your home is legally yours and that any potential ownership disputes will be resolved at no cost to you.
If you are buying a home, it is important to make sure you are protected. Please contact us today to learn more about title insurance and what it can do for you.
Quick Facts About Title Insurance
- Title insurance is inexpensive, typically costing a one-time fee of less than one percent of your home's total value.
- Title insurance protects the buyer by guaranteeing that the title is legally transferable.
- A lender's title insurance policy protects the lender against losses resulting from hidden defects in the title that were not known at the time of the sale.
- A buyer's (owner's) title insurance policy frees the owner from responsibility for any legal claims arising out of issues or defects with the title.
- A title defect is any circumstance or problem with the title, such as an outstanding lien, that may disrupt the owner's peaceful enjoyment and ownership of the property.
- Title insurance protects owners and/or lenders against property claims arising from:
- False impersonation or identity theft
- Invalid deeds executed under an expired power of attorney or obtained wrongfully, including those obtained by minors or a person of unsound mind
- Unrecorded easements
- Taxes not paid by previous owners
- Unpaid estate inheritance liens
- Forged documents
- More
- Title insurance covers the costs associated with legal proceedings as well as for resolving any valid title claims.
- Title insurance coverage lasts for the length of property ownership and sometimes longer.
In need of title insurance services? Please contact us today for a FREE consultation with a friendly and experienced title insurance attorney who can answer your questions and ensure that your property is protected.