| What
Title Insurance Means To You |
 | Title
Insurance....What is it? |
|
Fire insurance protects you against
loss from fire. Collision insurance guards you against the cost of
a damaged car. Theft insurance - well, you get the idea.
Title Insurance protects your title to real
estate that you are about to acquire. |
| Your Ownership
of Real Estate. |
|
Real Estate has always been
considered man's most valuable possession. It is so basic a form
of wealth that many special laws have been enacted to protect ownership
of land and the building which stand on the land.
You should realize whenever you buy property
that the owner who is selling it to you has extremely strong rights as
do his family and heirs. Also, there may be others- in addition to
the owner - who have "rights" in the property you are going to
buy, perhaps governmental bodies, or contractors, for example.
Some of the things a title search uncovers are
any unpaid taxes or mortgages, judgments against previous owners,
easements, and many other court actions or recorded documents which can
affect title to real estate.
The Title Company finds and reports all such
defects in the title to the real estate you wish to purchase, so that
these matters can be corrected and cleared up. It is the first
benefit you receive when title insurance is ordered. |
| Protecting You
Against Hidden Risks |
|
Protection against loss from claims
on real estate which cannot be discovered by examination of the public
records is the second part of the twofold benefit which the title
company provides.
For example, the title to the home which you
have paid for - and to which you have received a deed - could be
threatened or lost by such circumstances as forgery, confusion due to
similar names, or error in the records. These contingencies will
be covered in your policy of title insurance.
|
| How Does a
Title Insurance Policy Protect Against These Dangers? |
|
If a claim is made against your
title as covered by your policy, the title company protects you by -
- Defending your title, in court if necessary,
at their expense.
- Bearing the cost of settling the claim if it
proves valid, in order to perfect your title and keep you in
possession of your property.
|
| Summarizing,
Title Insurance Means This To You.......... |
|
It is assurance that every possible
cloud on the title to the land you are buying - which can be discovered
from the public records - has been called to your attention so that such
defects can be corrected before you buy. And -
It is insurance, that if any undisclosed claim
covered by your policy arises out of the past to threaten your ownership
of real estate, it will be disposed of, or you will be reimburse,
exactly as your title insurance policy provides |
| And You Pay
Only Once. |
|
Unlike other forms of insurance, the
original premium is your only cost as long as you own the
property. There are no annual payments to keep your Owners Title
Insurance Policy in force. |
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