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20 Reasons Why You Need Title Insurance |
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Here is a list of the 20 Reasons Why You Need Title Insurance. This list is provided as a service for educationl purposes.
- A fire destroys only the house and improvements. The ground is left. A defective title may take away not only the house but the land on which it stands. Title insurance protects you against such a loss.
- A deed or a mortgage in the chain of title may be a forgery.
- A deed or mortgage may have been signed by a person under age.
- A deed or mortgage may have been made by an insane person or one otherwise not competent.
- A deed or mortgage may have been made under a power of attorney after the death of the principal, and could therefore, be void.
- A deed or mortgage may have been made by a person other than the owner, but with the same name as the owner.
- The testator of a will might have had a child born after the execution of a will, a fact that would entitle the child to claim his or her share of the property .
- A will may have been revoked by the testator after it's execution.
- A conveyance by heirs-at-law or a person supposed to have died without a valid will may be defeated by a subsequent discovery and probate of a will.
- An heir or other person presumed dead may appear and recover the property or an interest therein.
- A judgement or levy upon which the title is dependent may be void or voidable on account of some defect in the proceedings.
- Without title insurance, you bear all the risk ofloss from title disputes after buying or lending on real estate.
- Title insurance helps speed negotiations when you're ready to sell .
- By insuring the title you can eliminate delays and technicalities when passing your title on to someone else.
- If your title is ever affected by matters covered in the policy, title insurance reimburses you for the amount of your loss up to the policy limits.
- Each title insurance policy we write is paid up, in full, by the first premium.
- Title insurance provides you with a defense in court against any litigation involving any alleged title defect, lien or encumbrance covered by the policy.
- Claims constantly arise due to marital status and validity of divorces. Only title insurance protects against these claims of supposedly non-existent or divorced "wives" or "husbands."
- Most lawyers, in giving an opinion on a title , protect their client as well as themselves, by procuring the insurance.
- Title insurance gives you peace of mind with coverage against insured defects.
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Real Estate 
