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Frequently asked questions about title insurance

Why Should Owner's Title Insurance Be Purchased?

Owners Title Insurance is an insurance policy that protects the clear ownership of a purchased property. This policy protects the owner from these examples:

A) Mistakes in the title search, the interpretation of a will, or in the recording of the property purchased. A court may also make a mistake and miss items that include liens, improper service or forms that were incomplete or inaccurate.

B) Forgery, where a notary was forged or the license of the notary was expired. This includes any fraudulent action that would include false impersonation, a misrepresentation of a marital status, an inaccurate power of attorney, any false affidavits or forged documents.

C) Incorrect or improper Conveyance that could include the possibility of a divorce or if the property was incorrectly conveyed to the wrong owner or heir. 

D) If there is a Lien on the property as a result of unpaid taxes which can include estate taxes, inheritance and gift taxes, building or mechanical liens, and corporate liens.

E) If a Deed was executed to a minor or any person who may lack the legal capacity to enter into it as specified.

F) If the legal description, including easements, was inaccurate or incorrect. 

What are the Benefits to an Owner's Title Insurance Policy? 

1.  This is a ONE TIME charge that covers the property for as long as the buyer owns the property and after that same buyer sells the property. There are no expiration or renewal fees.

2.  The owners' policy never decreases in coverage. A lender's policy lowers as the balance lowers with payment.

3.  The policy covers the buyer against any actual title issues and fraudulent claims.

4.  The policy protects the entire ownership claims and protects against any attorney fees

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