What protection does Title Insurance provide against defects and hidden risks?
Title insurance will pay for defending against any lawsuit attacking the title as insured, and will either clear up title problems or pay the insured's losses. For a one-time premium, an owner's title insurance policy remains in effect as long as the insured, or the insured's heirs, retain an interest in the property, or have any obligations under a warranty in any conveyance of it. Owner's title insurance, issued simultaneously with a loan policy, is the best title insurance value a property owner can get.
For more detailed explanation, contact us, or click on Our Underwriter tab.
What Title Insurance protects against
Here are just a few of the most common hidden risks that can cause loss of title or create an encumbrance on title:
- False impersonation of the true owner of the property.
- Forged deeds, releases or wills.
- Undisclosed or missing heirs.
- Deeds by persons supposedly single, but in fact married.
- Mistakes in recording legal documents.
- Misinterpretations of wills.
- Incorrect legal descriptions.
- Deeds by minors.
- Instruments executed under invalid or expired power of attorney.
- Liens for unpaid taxes, liens, assessments, etc.
- Fraud.