Why Do You Need Title Insurance?
What is title?
A title is the evidence and right that a person has to the ownership and possession of the land. It may be possible that someone other than the owner has a legal right to the property. If that right can be established, this person can claim the property.
Do you need title?
YES! When buying a home, there are many unforeseen issues that may occur after you purchase the property. Owner’s title insurance helps provide protection of your property rights for as long as you own the home. It is a means of protecting yourself from potential financial losses in the event that problems occur regarding the rights to ownership of your property. Getting an owners title policy is the best way to protect you and your family!
How much does title cost?
Homeowners insurance and warranties protect only the structure as well as the possession of your home. When purchasing title insurance, this guarantees that your and your family’s property rights stay protected. The one-time premium is directly related to the value of your home. It will continue to provide complete coverage for as long as you and your family own the property