What is Title Insurance…Why do I even need it?

Q. What is Title Insurance?  Why do I need it?

A. Throughout the years, your property (the land your home sits on) may have changed hands many times through sale, inheritance, foreclosure or bankruptcy.  In some cases, there could be defects in the title that remain hidden despite the most thorough search of public records.  A problem may have occurred long before you bought your property and could deprive you of ownership or your ability to sell or refinance it.

If an error in title has occurred and has never come to light, it puts  your Title in jeopardy.  You could lose your property and the money you paid for it.  Even if you successfully defend your rights of ownership, the cost in time and legal fees could be exorbitant.

Should the marketability of your title be challenged, you will require immediate and expert legal support.  The extent of the defect needs to be understood, a plan of action must be initiated to remove the defect and the work to clear the title must be performed diligently   and completely.  A policy of Owners Title Insurance provides you the protection you will need.

Published in: on February 16, 2010 at 9:36 am  Leave a Comment  

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