What Is Title Insurance?
Homebuyers are protected from hidden debts, unforeseen events, unnoticed errors, and changing circumstances that may have a negative effect on their property title’s legitimacy through title insurance. A consumer’s claim to a property title may still be challenged by the seller’s business partners, debtors, heirs, spouse, or anyone who expresses interest in the property even if the real estate transaction is already closed. The title insurance spares homebuyers from having to spend money on claims resulting from:
- Improperly recorded deeds
- Inadequate legal descriptions
- Undisclosed easements or restrictions of use
- Undisclosed liens
- Undisclosed prior mortgages
The title insurance is not just limited to the protection of the homebuyer’s investment when their purchase is questioned by a third party; it is also about safeguarding titles and making sure there are no effects before policies are issued. This is why we offer title search and examination.
Title & Settlement Services from Attorneys’ Title Services:
Our company conducts detailed searches to check if a property’s title has issues. The following items are included in our searches:
- Water and sewer bills
- Tax records
- Land records
- Court judgments
Attorneys’ Title Services also offers escrow services, where funds are held until obligations are fulfilled by the homebuyer and lawyer services when consultations or legal actions are required.
Cost and Period Covered:
A title insurance policy will last as long as the period that you maintain your ownership over the property. You are only required to pay for the title insurance once.