Title insurance affords financial security against a variety of uncertainties. A title insurer provides legal defense title attacks, title corrections and payment to valid claims. This one-time fee at closing protects your valuable home investment. Ask about your title insurance protection prior to closing, and be assured your home is covered with an owner’s title insurance policy.
Title insurance prioritizes risk elimination before insuring and places the policyholder in the best position to avoid title claims and loss. The process unfolds with a search of public land records related to the property. A title agent or attorney runs an examination for its underwriter to judge the property’s inseparability. All “material objections” to the title are a result of this exploration. A records search often discovers documents in the “title chain” where the title transfer language is unclear.
• Improperly worded or incorrectly named deeds, trusts and wills.
• Property liens as a result of unpaid taxes or unpaid or outstanding mortgages and judgements.
• Easements allowing road construction or utility line placement.
• Pending legal action against the property that could affect a purchaser.
• Flawed or incorrect notary acknowledgements.
Great care is taken to locate title risks and correct issues of concern throughout the search and examination process. Title problems are disclosed and corrected whenever possible, but hidden hazards are always a possibility.
• Forged deed signature = no transfer of ownership.
• Property ownership claim by appearance of an previously unknown heir to the prior owner’s.
• Instruments completed under a bogus or expired power of attorney.
• Inaccurate or incorrect public records.