The place where you live is also one of your most valuable possessions. But did you know that ownership of your home could be threatened - or taken away from you - even if you've paid for the property and received a deed?
When that dream is finally realized, why wouldn't you take every precaution to protect it?
What Is Title Insurance?
Owner's title insurance is meant to protect your ownership interest in your home. Subject to the terms of your policy, owner's title insurance protects you against losses incurred due to any title defects that existed prior to the purchase of your home.
Your owner's title policy offers insurance protection for as long as you own your home.
To the extent of the matters covered in the policy, an owner's title insurance policy will protect you in the event a legal challenge is made to the ownership of your home.
How Title Insurance Works
As property changes hands, mistakes and irregularities - often made long before you expressed interest in the property - can place your ownership in dispute. The seller may have...
...Avoided disclosure of using the property as collateral for an unpaid loan.
...Fraudulently claimed to be the sole owner.
...Failed to pay real estate taxes.
Even a simple mistake in the recording of legal documents, improper execution of legal instruments or the reappearance of undisclosed or missing heirs could result in the loss of your home.
Protect Yourself and Your Family with the Security of Owner's Title Insurance
In order to provide title coverage, we search public land records for documents and other interests that may be associated with the title to your home.
If we identify recorded defects, liens or encumbrances upon the title, such as unpaid taxes, unsatisfied mortgages, easements, or restrictions, these are identified on a report prepared prior to your purchase of the property. We will then discuss with you how to resolve these items prior to closing.
If you later identify a potential title issue, you should review our policy for potential coverage.
To the extent of your coverage under your title insurance policy, if ownership of your property is challenged, the title company will defend your ownership of the property - and assume the legal costs of that defense - for as long as you own the property. What's more, if challenges to your property's title proves to be legitimate, the title company will pay for your covered losses.
Take advantage of the title company's expertise, strength and superior service for your peace of mind and the protection of your property.
Important Reasons Why You Need Owner's Title Insurance. Your Policy May Cover:
- Forgery of a covered document
- Fraud in the execution of a deed or other covered document
- Undue influence exercised over the grantor of a deed
- False impersonation by someone purporting to be the owner of the property
- Undisclosed or missing heirs
- Wills not properly probated
- Misinterpretation of wills and trusts
- Mental incompetence of a grantor of a deed
- Transfer of title by a minor
- Heirs born after the execution of a will
- Incorrect legal descriptions
- Non-delivery of deeds
- Deeds executed under expired or false powers of attorney
- Confusion due to similar or identical names
- Dower or curtesy or homestead rights of spouses of former owners
- Incorrect indexing of the land records
- Clerical errors in recording legal documents
- Delivery of deeds after the death of the Grantor