If you are buying a property, you want to make sure that you are really buying the real estate. If you do not take out an owner’s title insurance policy, it is a big mistake. While a lender’s policy of title insurance protects the mortgage companies’ or banks’ interest in your property, it does not safeguard you as the owner. Therefore, it is crucial that you take out the policy for your ongoing financial health.
What the Research May Reveal
When you contact a title insurance agency in Blissfield, MI, research will be conducted to see if any problems exist with the chain of title for your real estate purchase. This research will be performed to determine the actual owner and how the title is vested. Research also reveals the following details:
* The encumbrances on the property, such as easements
* Outstanding liens
* Problems that need to be resolved before purchase
How the Protection Can Help You
Once a title insurance agency has issued a policy, you as the owner are protected from any covered risks. If a claim is made on your property that occurs within your policy’s effective date, all you need to do is call the company to handle the dispute.
Successfully Resolving a Claim
After a call is made, the title insurance agency will evaluate the risk, hire an attorney to act as an advocate on your behalf, and work toward immediately resolving the claim. By using the services of a title company and purchasing title insurance, a claim can be settled quickly and properly.
Avoid Unforeseen Problems
If defects are found in the chain of title or claims are made, they often result from fraud, mistakes in the documentation, illegally generated deeds, tax liens, or fraud. Therefore, an owner’s title insurance policy ensures that your real estate transaction will go through without any unanticipated difficulty.
Where to Buy the Insurance
If you would like to know more about this type of insurance protection, contact a company that provides title insurance coverage and understands its benefits. Call Prestige Title Insurance in Adrian, MI at 517-264-6040. Get the protection that you need today. You can also join them on Google+ for more updates!