– Title Insurance will protect you against a loss on your home or land due to a title defect.
– A deed or mortgage in the chain of title may be a forgery.
– Claims constantly arise due to marital status and validity of divorces.
– A deed or mortgage may have been made by an incompetent or under aged person.
– A deed or mortgage made under an expired power of attorney may be void.
– A deed or mortgage may have been made by a person with the same name as the owner.
–A child born after the execution of a will may have interest in the property.
– Title transferred by an heir may be subject to a federal estate tax lien.
– An heir or other person presumed dead may appear and recover the property or an interest.
– A judgment regarding the title may be voidable because of some defect in the proceeding.
– By insuring the title, you can eliminate delays when passing your title on to someone else.
– Title Insurance reimburses you for the amount of your covered loss.
– Title Insurance helps speed negotiations when you’re ready to sell or obtain a loan.
– A deed or mortgage may be voidable if signed while the grantor was in bankruptcy.
– Claims have risen dramatically over the last 30 years.
– There may be a defect in the recording of a document upon which your title is dependent.
– Title Insurance covers attorney fees and court costs.
– Many lawyers protect their clients as well as themselves by procuring title insurance.
– A deed or mortgage may have been procured by fraud or duress.
– A title policy is paid in full by the first premium for as long as you own the property.