What Title Insurance Is And How it Protects You

When you buy or refinance a property, you’ll have to pay for something called title insurance. This type of insurance is designed to protect you from any potential financial losses or claims that might arise due to problems with the property’s ownership history or title.

For example, it covers you if there are any liens on the property that weren’t discovered during the title search. This could include things like unpaid taxes, undisclosed heirs, or errors in public records. Should there be someone out there who claims ownership or interest in the property your title insurance provides you with the needed legal defense to protect your ownership rights. Now lets suppose the claim to your property you just purchased is valid. Your insurance will pay off the third party, settling the claim, so you can get back to your life.

Now let’s say a neighbor or some other party claims rights to use part of the property, title insurance can protect you from any loss in property value or usage rights resulting from such encroachments or easements. So, in a nutshell, title insurance is there to protect you from any potential problems that might arise with your property’s title or ownership history.

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