Why Title Insurance?
What is Title Insurance?
Title is the legal right that a person has to the ownership and possession of their home and land. It is possible that someone other than the seller could have a prior legal right to the property you are buying. A Homeowner’s Policy of Title Insurance is designed to protect you from covered title discrepancies arising prior to – or after your purchase of the property, for as long as you and/or your heirs own the property.
Buyers & Investors: Why do you need an Owner’s Title Policy?
When buying a home, you need to be sure the seller is the true owner of the property by securing a copy of the current deed in the land records. You must also ensure that no outstanding issues or liens will damage the title transfer to you. Signature Title and Settlement will handle this process for you! Purchasing a home is one of the biggest investments you will make in your life, therefore we take every step to perform a meticulous title search to determine if there are any defects on the title to the property you want to purchase.
Why? Problems with the title can restrict the use of the property and ultimately result in financial loss. That is where title insurance comes in and where Signature Title & Settlement can help you.
We conduct a comprehensive title search to make sure your ownership is free and clear of any issues. Furthermore, a title insurance policy will protect your investment and give you peace of mind that your ownership will not be affected from various undisclosed matters that might not be discovered in a title search.
The cost is minimal and is only paid once. There are no renewal premiums, and there is no expiration date on the policy. The protection lasts as long as you – or your heirs – maintain an interest in the property.
These are just some of the hidden title risks that would not be disclosed by even the most meticulous title search:
- Forgery
- Fraud in the execution of documents
- Undue influence on a grantor
- False impersonation by someone purporting to be the owner
- Incorrect representation of marital status
- Undisclosed or missing heirs
- Wills not properly probated
- Misinterpretation of wills and trusts
- Mental incompetence of a grantor
- Transfer of title by a minor
- Heirs born after the execution of the will
- Unsatisfied claims not shown in the public records
- Deeds executed under expired or false power of attorney
- Confusion due to similar or identical names
- Erroneous reports furnished by tax officials
- Incorrect indexing of land records
- Clerical errors in recording legal documents
- Delivery of deeds after the death of the grantor
Get The Right Title Insurance For You
You are required to purchase a Lender’s Title Insurance policy to protect your mortgage provider. This ensures your mortgage provider has a valid, enforceable lien on your property. The Homeowner’s Policy of Title Insurance is designed to protect YOU from covered title discrepancies occurring prior to or during your ownership of your home. You and your heirs will be protected from any unforeseen, covered discrepancies, with this one-time purchase. Don’t take chances with the one of the single largest investment you can ever make.
Want to know what your insurance premium are going to be? Use our Fidelity Insurance Rate Calculator to estimate your insurance premiums now.
Protecting your Investment (examples include)*
- Zoning Violations
- A Defective Title
- Subdivision Law Violations
- Someone claiming rights affecting your title
- Building Permit Violations
- Someone having the right to limit your use of your land
- Damage to your house caused by someone with easement rights
- Improvements that encroach into an easement
- Covenants, conditions, and restrictions
- Clerical errors in recording legal documents
*Some coverages are subject to deductibles and liability caps.