Platinum Swing Trade Alerts

The 10-Buck Broker (Long-Term Stock Picks)

Announcement

Collapse
No announcement yet.

What is Title Insurance and Do You Need It?

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • What is Title Insurance and Do You Need It?

    A home's title is as important as the physical building and land it occupies. A title insurance policy offers protection against any unforeseen ownership claims that may arise after you buy a new home. It keeps your money and investment safe, insuring that you are protected if there is a question of ownership.

    Although it sounds unlikely, the unfortunate truth is that ownership questions are not that uncommon. Whenever you buy a home, your real estate agent or title company will run a title examination or title search to verify the ownership of the property that has just been bought. This examination and search consists of collecting and examining any and all public records that involve the title to the property in question. These records include wills, liens, deeds, and trusts and can prove that the property has correctly and legally passed from owner to owner. The examination also confirms that all judgments and mortgages concerning the property have been completely paid.

    Wonderfully, most often the title search will return with a clear report; however, occasionally a slight problem will appear. Sometimes called a 'defect' or 'cloud,' these problems are things like missing signatures or easements and other right-of-way issues. These should be settled and reviewed before any purchase is considered final.

    Less often, legal battles can ensue from ownership questions that arise from the title search. You risk paying expensive legal fees and possibly losing the property that you thought you just paid for; thus the existence of title insurance. Title insurance pays your legal fees, and if you lose the property, reimburses you up to the policy limit. Just like other types of insurance, though, title insurance policies can contain certain exclusions and riders. It is important to make sure you know what type of policy you have, what is covered and what is not covered. For example, some title companies offer only limited coverage of easement, lien, or mineral rights problems; sometimes they do not offer this coverage at all. Consider what coverage you need before you buy a title insurance policy.

    Do you need title insurance? Most mortgage companies require at least some type of title insurance. They have quite an interest in the property and do not want to lose their investment. If you are paying for your new home outright, however, you can decide whether or not title insurance is right for you. Usually, the home buyer is responsible for purchase of title insurance, if any, but as a condition of the sale the cost may be transferred to the seller. Ultimately, the decision is yours.


    Article Source: http://EzineArticles.com/3528498
    Platinum Swing Trade Stock Alerts(FREE 14-Day Trial)

    The 10-Buck Broker (Long-Term Stock Picks)


    Best Stock Picking Services

    Sign up for the forum to reply to this post!!!


    Best FOREX Signals Software

    Stock Market Investing For Beginners


    "Step into the arena and hold on to your hat. Don't get discouraged if you don't make 8 trillion dollars in your first month. Trading is not a get rich quick scheme. Realize that trading is a skill and just like any other skill it takes time to learn. Have convictions in your decisions in life and trading. Ignore the comments and "advice" of those that have never traded a day in their life."

    Good KARMA and positive energy abound.


    Terms Of Service

    Disclaimer: This website provides information about the stock market and other investments. This website does not provide investment advice and should not be used as a replacement for investment advice from a qualified professional. This website is for informational purposes only. The Author of this website is not a registered investment advisor and does not offer investment advice. You, the reader, bear responsibility for your own investment decisions and should seek the advice of a qualified securities professional before making any investment.

    Promoted content: You should assume that this website has an affiliate relationship and/or another material connection to the persons or businesses mentioned in or linked to from this website and may receive commissions from purchases you make on subsequent websites. Always exercise due diligence before purchasing any product or service. This website contains advertisements.
    Best stocks to buy now Stock Market
    Best stocks to buy now
    Dow Jones TodayDJIA
Working...
X