It is vitally important for prospective home buyers to thoroughly understand the process of their home purchase and the potential risk associated with the property’s title.

Most people don’t realize that the current owners of their prospective home, as well as their family and heirs, have extremely strong rights associated with the property. In addition, third parties may have liens against the title for anything from unpaid child support to outstanding parking tickets. In fact, it takes very little effort to place a lien on a property, but it can take a great deal of time and money to have it removed.

Title insurance is actually a process and the insurance policy is the end product of that process. This process starts with comprehensive search of public records to determine if any liens or other encumbrances are attached to the title. During the search, detailed information from potentially hundreds of sources is gathered and reviewed including tax records, federal, state and local records, court judgments deed and an evaluation of whether the property characteristics are accurately reflected by the information on the title.

Not surprisingly, one in four title searches results in some discrepancies.

Talk to Magnolia Title about how you can be protected through title insurance.