Title Insurance is an insurance policy designed to keep the buyer and/or their mortgage lender from risks associated with defects in the title (ownership) of the property.
Title Insurance is an insurance policy designed to keep the buyer
and/or their mortgage lender from risks associated with defects in
the title (ownership) of the property. Title Insurance is offered as
either a standard policy or an enhanced policy. A standard policy
covers defects in the title up to the date of settlement. An enhanced
policy covers defects in the title before and after settlement.
Covered claims can range from any of the following and more:
undiscovered easements that affect the use of your property, errors,
fraud or illegal signatures on the title paperwork going back many
transactions, errors in public records, a disputed will from a previous
owner, and previously unreleased liens on the property that could
make it difficult to sell. Title insurance companies will usually assume
the risk of defending the claim. Title insurance companies pay out
claims on a policy at a rate that is ten times higher than the payout
rate on homeowner’s policies.
If you ever have any questions about anything involving real estate, please contact us, schedule a time for a video or phone call, or give us a call!