Understanding The Need For Title Insurance
June 1, 2024
20 Important Reasons You Need Title Insurance
June 1, 2024
What Is Title Insurance?
There are two different kinds of title insurance policies and each covers a specific type of owner:
- Lender’s or Loan Title Policies.
- Owner’s Title Insurance Policies.
Title insurance is regulated by each state having a department of insurance that generally regulates all forms of title insurance. These governmental bodies are responsible for establishing and enforcing regulation for insurance sold in their state.
Owner’s title insurance protects your right to your home. By searching, clearing and insuring the title to your home before you buy it, your owner’s title policy offers protection for your property rights for as long as you and your heirs own your home.
If ownership of your property ever comes into question, an owner’s title insurance policy protects you from expensive legal problems that could result in the loss of your home.
Here are several categories that can cloud a title and result in significant risk for a prospective buyer:
* Liens
* Errors
* Claims
* Fraudulent Activity
The title search meticulously seeks out and evaluates any known indication of any of these issues. It is important to know that even the most comprehensive search may not uncover every hidden area of title risk.
Protect Yourself And Your Family With The Security Of Owner’s Title Insurance
We diligently search public records for documents associated with the property and provide you with an expert, interpretive view of the impact of all recorded matters on the property’s title. If our title search reveals recorded defects, liens or encumbrances upon the title, such as unpaid taxes, unsatisfied mortgages, easements, restrictions or other impediments, these are reported to you prior to your purchase of the property.
We offer solutions to resolving these impediments so you own your property free and clear at closing.
Count on Magnolia Title to complete that meticulous search and evaluation and prepare all documents for the title insurance to be issued for your real estate purchase.
