Wondering why you may need Title Insurance?

It is a good idea to stay covered in case there is a defect in your property's title. A title search can reveal these defects that may have been hidden in your property's history. Depending on the terms of the policy, title insurance can make sure you stay protected in the event that you discover problems with your title after closing.

Unknown Easements

Your new home and its land may be owned by you, but an unknown easement may compromise aspects of your property, such as using it how you’d like, or allowing government agencies, businesses, or other third parties access to portions or all of your property. Usually, these are non-financial issues, but easements still can affect your rights to use your property how you want.

Boundary / Survey Disputes

The surveys you saw when purchasing your property may note specific boundaries, but other surveys could potentially exist that show different boundaries. This may lead to a neighbor or other party claiming ownership to a portion of your property.

Undiscovered Will

When an owner dies without an apparent will or heir, the state may sell their assets, including the home. It simply isn’t enough to assume yourself as the owner of the property, as even years later, if the deceased owner’s will resurfaces, your rights to the property may be at serious risk.

False Impersonation of Previous Owner

If you have a common name, or someone has a name that is similar to yours, it is possible that an owner can be falsely impersonated. If you purchase property that was once sold by a fake owner, you risk losing your legal claim to the property.

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These and other issues are often covered by an owner’s policy of title insurance. When you purchase a property, make sure you protect your investment with title insurance.

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