Buying a home may be the largest investment you make in your life. So before you sign on the dotted line, you must be certain that the property's title is clear of any other claims.
A title insurance company ensures that your new property won't surprise you with encumbrances and other legal obstacles.
For a modest, one-time title insurance premium, you will receive continuous title insurance protection equal to the purchase price of the property or its current market value.
The title insurance company searches the title history of the property. Through its research, the title company can almost always identify any title problems and clear up these problems prior to closing.
Real Estate law is extraordinarily complex. Title companies make sure that all the T's are crossed and all the I's are dotted so you don't end up with a clouded title and legal problems. Your title insurance owner's policy will describe the property and outline any recorded limitations on your ownership. It will also cover what the title company is responsible for. Typically your title insurance will protect you in the following cases:
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