Protecting your property rights is important. In fact, title insurance works to protect you when it comes to your property interest in your home. From protecting your largest investment and reducing your risk of losing your property interest in covering your heirs and providing you with peace of mind, title insurance is necessary for every homeowner. Here are the reasons title insurance is such an integral part of any real estate transaction.
An Owner’s Title Insurance Policy
A person’s insurance policy is the best protection a homeowner can provide for themselves. With an owner’s title insurance policy, homeowners can be protected against any potential defects that can ultimately remain hidden, even despite the most thorough search of the public records.
A Lender’s Title Insurance Policy
An owner’s insurance policy isn’t the only one out there. A lender’s insurance policy is one that is typically required if you are purchasing your home via a bank. This specific policy ultimately just protects the mortgage lender’s interest in the property itself. For a one-time premium payment –– usually at closing –– homeowners can get a title insurance policy that protects their interest and their lender’s in their humble abode.
What Type Of Protection Will Do I Get?
This is often a very common question asked by homeowners who are new to the world of real estate. There are numerous protections associated with title insurance. From forged deeds, mortgages, satisfactions, and releases to having a deed by a person who is mentally incompetent, insurance policies are made to keep the homeowner’s property interest at the forefront. Other protections that title insurance serves to protect against include deeds signed by mistake, deeds executed under falsified power of an attorney, undisclosed divorce of a person who conveys as sole heir of the deceased former spouse, and much, much more.
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+.