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Guide To Title Insurance For Your Real Estate

When you buy  real estate, the title company will search the public land records to make sure the seller is the legal owner of the property. If the title company finds a problem like an incorrect deed or a lien on the property, it can be fixed before closing. Most people don’t run into title problems after they buy a home, but it does happen. This is why you should have title insurance.

  • Types of Title Insurance. Title insurance falls into one of two categories: lender’s title insurance and owner’s title insurance. If you get a loan to buy your  real estate, your lender will require a lender’s policy based on the amount of your loan. An owner’s policy is purchased at closing and lasts as long as you hold an interest in the property.
  • What it covers. A basic title insurance policy protects you from any problems with a title that were not found during the title search. Human error can lead to mistakes on public records and forged deeds. This can and does happen. Names and legal descriptions are recorded incorrectly, back taxes may be owed, and people die without wills specifying their heirs.
  • How it helps you. Say, for example, that you buy a home with a utility easement in the backyard, and the title company did not disclose this. You may not be able to add on to your home or build a swimming pool in your yard because of this easement. This devalues your property, and the title company will have to correct this situation for you. In this case, your title insurance will cover the claim and protect your investment.

As your real estate agent I will help take the guesswork out of the closing process. Let me help you find the  real estate that fits your needs. Call me today at 562-879-9677 or email me at loubandb@gmail.com.

 

Compliments of RealtyBlogContent.com

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Before going into real estate in 2001, I worked in the medical field. Found it very rewarding helping others and decided to make a switch and help those, who want to achieve the "American Dream". As a homeowner, I know the importance of home ownership and nothing gives me more pleasure than to place those keys into the hands of a new homeowner. I look forward to helping you, with all your real estate needs.

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