You buy a home. Eveything is signed, sealed and delivered. At long last, it’s all yours – land, house, lawn, trees and mortgage. Time to celebrate! Maybe. Maybe not. 

What if many years ago, a deed was forged on the property you just bought? What if there are unpaid taxes? Or a clerical error in public records? Or previously unknown heirs of a former owner? What if? 

Owning your property free and clear involves more than having a deed in hand. A deed does not cancel certain prior “rights” and “claims” other people may have to your property – rights whose existence you never suspected; claims that may go back in time months or decades to the earliest owners of your newly acquired property.

What protection do you have against such claims? How can you be sure your property is really yours? The answer to both of those questions is real estate ownership insurance, commonly known as title insurance.

Title Insurance is a real estate ownership insurance of an insured statement of the condition of “title” of a particular piece of property. A title insurance policy describes your property in detail and states what limitations, if any, there are to your ownership. (For example, you may take ownership subject to existing liens or encumbrances. Or you may not own mineral rights. Or easements may have been granted to utility companies or adjacent property owner.)

Most importantly , a title insurance policy guarantees that the property you are purchasing is free of undisclosed liens, confusion in the rights of ownership and other clouds on the title. In short it guarantees that you own the property for which you bargained.

A title insurance policy provides you with peace of mind. It takes the risk out of acquiring property whose legal history is unknown to you. While there should be no risks in transferring property, they do exist. Through the years, you new property may have changed hands many times through sale, inheritance, foreclosure, or bankruptcy. Each transfer was an opportunity for an error in title to arise. If an error occurred, and has never come to light, it puts your title in jeopardy. You could lose you property and the money you paid for it. And, even if you successfully defend you rights of ownership, the cost in time and legal fees could be prohibitive. Among the many risks against which title insurance protects you are:

Confusion from similarity of names
Forged documents
Signatures of minors or mentally incompetent persons
Mistakes in recording legal documents
Undisclosed or missing heirs
Fraud
Invalid divorces
Misrepresentation of marital status
Unpaid taxes
Clerical errors in public records
Will not probated

You buy a home. Eveything is signed, sealed and delivered. At long last, it’s all yours – land, house, lawn, trees and mortgage. Time to celebrate! Maybe. Maybe not. 

What if many years ago, a deed was forged on the property you just bought? What if there are unpaid taxes? Or a clerical error in public records? Or previously unknown heirs of a former owner? What if? 

Owning your property free and clear involves more than having a deed in hand. A deed does not cancel certain prior “rights” and “claims” other people may have to your property – rights whose existence you never suspected; claims that may go back in time months or decades to the earliest owners of your newly acquired property.

What protection do you have against such claims? How can you be sure your property is really yours? The answer to both of those questions is real estate ownership insurance, commonly known as title insurance.

Title Insurance is a real estate ownership insurance of an insured statement of the condition of “title” of a particular piece of property. A title insurance policy describes your property in detail and states what limitations, if any, there are to your ownership. (For example, you may take ownership subject to existing liens or encumbrances. Or you may not own mineral rights. Or easements may have been granted to utility companies or adjacent property owner.)

Most importantly , a title insurance policy guarantees that the property you are purchasing is free of undisclosed liens, confusion in the rights of ownership and other clouds on the title. In short it guarantees that you own the property for which you bargained.

A title insurance policy provides you with peace of mind. It takes the risk out of acquiring property whose legal history is unknown to you. While there should be no risks in transferring property, they do exist. Through the years, you new property may have changed hands many times through sale, inheritance, foreclosure, or bankruptcy. Each transfer was an opportunity for an error in title to arise. If an error occurred, and has never come to light, it puts your title in jeopardy. You could lose you property and the money you paid for it. And, even if you successfully defend you rights of ownership, the cost in time and legal fees could be prohibitive. Among the many risks against which title insurance protects you are:

Confusion from similarity of names
Forged documents
Signatures of minors or mentally incompetent persons
Mistakes in recording legal documents
Undisclosed or missing heirs
Fraud
Invalid divorces
Misrepresentation of marital status
Unpaid taxes
Clerical errors in public records
Will not probated

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