Title insurance is a vital part of the real estate process. It can help protect you from a number of risks including the following: impersonation of the true property owner, forged deeds or other pertinent documentation, execution under invalid or expired power of attorney, misinterpretations of wills, deeds by persons of unsound mind, undisclosed or missing heirs; mistakes in recording legal documents, fraud, liens and more.
Title insurance is worthwhile investment, and it is generally simply rolled into your closing costs.
To make the most of available title insurance resources:
1. Start by understanding the basics of title insurance. Learn why you need it and what it protects you from.
2. Look at who provides title insurance. Generally, you should go with someone in your immediate area who is familiar with the local public records.
3. Take advantage of industry news and affiliations to continue your title search education and knowledge.
Start with title insurance basicsFind out why you need title insurance, what protection it provides and more before jumping into requesting or declining it on your next property purchase or sale.
Stay updated about title insuranceStay informed as to title insurance and the industry by joining group affiliations or through updated news feeds.
Look to the services of title insurance professionalsFind out what information and title insurance services are available from providers in the industry. Most are also very helpful in providing industry background information and FAQs as well.
Find even more title insurance providersYou have a lot of title insurance service companies to choose from. Most people will go locally, but you can certainly compare prices and services nationally.
- Even the most careful examination of public records may not turn up a title hazards, so investing in title insurance will ensure that you have an indemnity contract that reimburses you for loss in the event someone asserts a claim against your property.