When you buy a home, you are making what is most likely the single
most valuable investment of your lifetime. You want to be sure
it’s protected against a possible loss due to problems with the
title.
That’s where title insurance comes in. Before you purchased
your home, it may have gone through several ownership changes.
It’s important to ensure that the previous owner’s
family or heirs do not have rights or claims to the property that you
are buying. In addition, other parties could also have an interest in
or lien upon the property, such as governmental bodies, contractors,
lenders or the Internal Revenue Service.
Title insurance provides coverage for future claims or future losses
due to title defects that occurred prior to your acquisition of the
property. Fidelity National Title conducts a diligent search of the
public records associated with the property in order to determine if
there are any rights or claims that may have an impact upon the title
to the property. Any problems are reported to you so they can be
resolved prior to your purchase of the property.
You will also be protected against any recorded defects, liens or
encumbrances upon the title that are unreported to you, and which are
within the coverage of the particular policy issued in the
transaction. In addition, title insurance also protects you against
hidden risks that are not discoverable by a search and examination of
those public records, including forgery, fraudulent impersonation, and
other errors in the records. |
|
|