Real estate. Property rights. They both go hand in hand. In fact, when you purchase a property you’ll want to make sure that your ownership rights are fully protected. And this is exactly where title insurance jumps in to help. Here are some crucial nuggets of wisdom to help you better understand title insurance, the benefits, and how it all works.
What You Need To Know
When a property is financed- through a lender- via a mortgage, the transaction will traditionally be filed in the public records. As a result, you have records of other events that may affect the actual ownership of a property itself. This can manifest in the form of a lien on the property or a levy which are all archived in the public records.
Buying Title Insurance
When it comes to title insurance, having this protection ends up being a great relief in the long run. In fact, as soon as you buy title insurance, a title company will search the public records to look for and remedy and ownership issues attributed to the property. By searching the public records, the title company is able to determine the rightful owner of the property. After the lengthy search, the underwriter will determine the insurability of the actual title.
Some Problems Are Hard To Find
Not all issues will be easy to spot. That is why relying on experienced professionals is key when it comes to title insurance. In fact, some risks, such as title issues like filing errors, forgeries, or undisclosed heirs are incredibly difficult to uncover. That is why after a title company finally finishes its traditional search, they will then continue to help you protect your ownership rights in a wide array of issues that might end up being uncovered much later.
A Title Company You Can Trust: Colony Title
At Colony Title, we will help you through the process of getting your property’s title and help you avoid the pitfalls of hidden costs while you buy your home. We are also well trained in identifying any and all errors in public records and helping you resolve them. We specialize in real estate title insurance in both Maryland and Washington, D.C., and we will perform an expert title search, check through all past documentation, and examine records for any fraud or forgery. For more information on how we can get you into the home of your dreams, contact us online or give us a call at (410) 884-1160. To get more updates on housing markets and how to get into your home, follow us on Facebook, Twitter, LinkedIn, and Google+
Tags: Title Insurance