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What is Title Insurance and Do You Need It?

A home title is as significant as the building and the plot it occupies. A title insurance coverage offers a shield against unexpected ownership rights that may arise after you purchase a new home.

This makes your money and asset secure, ensure that you are protected if there is a question of ownership.

Although it sounds impossible, the unfortunate truth is that the question of ownership is not as common. Every time you buy a home, real estate agent or title protection companies you will run a headline or title search to verify ownership of the newly purchased property.

This examination and a search consisted of collecting and checking for any and all public records involving the title to the property in question. These records include wills, liens, deeds, and trusts and can prove that the property has been properly and legally passed from owner to owner.

The examination also confirmed that all decisions and mortgages on the property have been paid in full. Amazing, is most often a title search will come back with a report that is clear; however, sometimes a bit of a problem will arise.

Sometimes called 'handicapped' or 'cloud,' these problems are things like the signature or right of way easements and other issues disappear. It must be completed and reviewed before any purchase is considered final.