A smart homebuyer knows that their home is an investment in their family’s future, which means that it’s important to protect this investment in any way possible. Getting title insurance in Carroll County is one of the best ways to do this.
Everyone has home insurance to protect their home from damage, but home insurance doesn’t protect your home from claims on the title. A claim on your home’s title could cost you thousands of dollars and a protracted legal situation. Not to mention that the worst case scenario could be that you lose your home. Title insurance protects you from this, which is why it’s so important to consider title insurance for your new home in Carroll County.
What is a Title Claim?
A title claim is when a third party says that they have rightful ownership of your home because they have a legitimate interest in the home’s title. There are a number of reasons this can happen. Errors in filing made long ago can create loopholes that allow for a third party to make a legitimate claim. Fraud is another method by which title claims can be made. These are just a few examples; there are other ways a legitimate claim can be made on your home’s title.
How Does Title Insurance in Carroll County Protect You from Claims?
If someone makes a claim on your home’s title and you have title insurance in Carroll County, your title insurance company will handle the litigation process and legal costs. A settlement can be reached with the third party to allow you to keep your home. Without title insurance, you run a much higher risk of losing your home.
Title Search Protection
Title insurance in Carroll County also protects you before you even buy your home. When you choose to purchase title insurance, your title company conducts a title search, which is a search of local records that can uncover many potential problems with your home’s title. Unpaid taxes or liens may still be associated with the title, for example. If you were to buy the home without knowing this, these would become your responsibility, and you could be held liable for them. The title search prevents this from happening.
To learn more about why you should get title insurance in Carroll County, contact Colony Title today.
About Colony Title Associates:
Founded in 1995, Colony Title Group handles in excess of 2000 real estate closings in Washington DC and the Delmarva area every year. The founder Tee Tillman has over 23 years experience in the title and real estate law fields. Colony handles closings for several lenders, including banks, credit unions and mortgage brokers. Colony is the preferred choice for many real estate brokers in the Baltimore area. If you have any questions concerning issues that Baltimore title insurance protects you from, feel free to contact us at 410 884-1160 or visit ColonyTitle.com today!