What is title insurance and why do you need it?

Why do you need Owner’s Title Insurance?

The place where you live is one of your most valuable possessions. Did you know that ownership of your home could be threatened – or taken away from you – even if you’ve paid for the property and received a deed? When that dream is finally realized, you must take every precaution to protect it.

What Is Title Insurance?

Owner’s title insurance is meant to protect your ownership interest in your home. Subject to the terms of your policy, owner’s title insurance protects you against losses incurred due to any title defects that existed prior to the purchase of your home. Your owner’s title policy offers insurance protection for as long as you own your home. To the extent of the matters covered in the policy, an owner’s title insurance policy could potentially protect you in the event a legal challenge is made to the ownership of your home.

How Title Insurance Works

As property changes hands, mistakes and irregularities – often made long before you expressed interest in the property – can place your ownership in dispute. The Seller may have avoided disclosing the use of the property as collateral for an unpaid loan, or fraudulently claimed to be the sole owner, or failed to pay real estate taxes. Even a simple mistake in the prior recording of legal documents, improper execution of legal instruments, or the reappearance of undisclosed or missing heirs could result in the loss of your home.

Protect Yourself and Your Family with the Security of Owner’s Title Insurance

In order to provide title coverage, we search public land records for documents and other interests that may be associated with the title to your home. If we identify recorded defects, liens or encumbrances upon the title, such as unpaid taxes, unsatisfied mortgages, easements, or restrictions, we identify such items in a report prepared prior to your purchase of the property. We will then discuss with you how to resolve these items prior to closing. If you later identify a potential title issue, you should review the policy issued to you during closing for potential coverage.

Important Reasons Why You Need Owner’s Title Insurance. Your Policy May Cover:

1. Forgery of a covered document
2. Fraud in the execution of a deed or other covered document
3. Undue influence exercised over the grantor of a deed
4. False impersonation by someone purporting to be the owner of the property
5. Undisclosed or missing heirs
6. Wills not properly probated
7. Misinterpretation of wills and trusts
8. Mental incompetence of a grantor of a deed
9. Transfer of title by a minor
10. Heirs born after the execution of a will
11. Incorrect legal descriptions
12. Non-delivery of deeds
13. Deeds executed under expired or false powers of attorney
14. Confusion due to similar or identical names
15. Dower or curtesy or homestead rights of spouses of former owners
16. Incorrect indexing of the land records
17. Clerical errors in recording legal documents
18. Delivery of deeds after the death of the Grantor

Our Business: Protecting Your Home Investment

The Value and Security of Owner’s Title Insurance

Your home is often the largest financial transaction you’ll ever make – our business is protecting the title to your property from unknown defects. Under the terms of your insurance policy, for a relatively low, one-time premium, you’re protected against covered losses that could cost tens of thousands of dollars. Dollar for dollar, an owner’s title insurance policy is one of the most cost-efficient forms of insurance for homeowners. Best of all, your one-time premium protects you for as long as you own your property.