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Home > About Title Insurance
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| What is a title? |
| When you buy a home, you want to make certain that it is clearly yours. A title is the basis of property ownership. As the owner, it is your right to use and possess the property. |
| What makes transferring the title to real estate different than for a car? |
| Real estate, or land, is permanent and can have many owners over the years. Because of this, various rights in land (e.g. mineral, air, liens, easements, utility) may have been acquired by others by the time you possess it. It is necessary to determine whether any rights are outstanding in order to transfer a clear title to a piece of land. When purchasing cars, stereos, televisions and other such items, there is no need to know whether the former owner is married or has a tax obligation. |
| What is a title search? |
| A title search examines the historical records concerning a property in detail. This includes deeds, court records, property and name indexes and other documents. The search is intended to verify the sellers' right to transfer ownership, and to discover any claims, defects and other rights or burdens on the property. |
| What specific items can a title search discover? |
| A title search may reveal unpaid taxes, unsatisfied mortgages, judgments against the seller and restrictions limiting the use of the land. |
| Does a title search discover everything? |
| No. There may be some defects or items that even the most intensive title search will not reveal. For example, a previous owner may have incorrectly stated his marital status, resulting in a possible claim by his legal spouse. Other items that may not be revealed include fraud, forgery, defective deeds, mental incompetence, confusion due to similar or identical names and clerical errors in the records. Any of these items may jeopardize your right to ownership. |
| How does title insurance protect me? |
| Without title insurance, you may be in danger of losing your real estate. Title insurance protects you from title defects, including the "hidden problems" that may arise resulting in a claim against your ownership. Title insurance can, in accordance with the terms of your policy, pay your court costs and assure you of a legal defense, and reimburse you for actual loss up to the face amount of your policy. You pay only once for title insurance and it lasts as long as you, or your heirs, retain an interest in the property. |
| What types of title insurance are there? |
| Title insurance can be purchased to protect an owner, the lender, or a lessee. |
| The information provided is intended for informational purposes only. Your title insurance policy may contain terms and conditions that restrict or limit coverage. Consult your attorney for specific advice regarding your legal rights. Consult your real estate professional when buying or selling your home. |
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