– Property ownership issues can arise after closing on a new home
– Title insurance protects against financial loss due to unknown property ownership issues
– Title search is essential to identify potential problems with the deed or title
– Lenders often require title searches as part of their underwriting process
– Local professionals who offer real estate title insurance solutions are best equipped to conduct accurate title searches – Any unpaid mortgages or liens on the property
– Forgery or fraud in previous transfers of ownership
– Easements or property setbacks that weren’t disclosed
– Errors or omissions in public property records – If there is still money owed on a property after a sale, it doesn’t belong to anyone until it’s fully paid off.
– Lienholders can prevent someone from taking clear ownership of a property.
– Buyers and sellers should ensure no payments are due within ninety days of settlement and check for any potential liens against the real estate. – Title insurance policies can be purchased for a home or other property.
– The first step in buying a policy is to fill out an application, which can be done online or through mail.
– Once the application is submitted, the property and the applicant will be investigated.
– More information can be found on real estate title company websites, through web searches, or by contacting state insurance or financial services departments.
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