Importance of Title Insurance

Importance of Title Insurance 

Title insurance is important because it protects the purchaser and lender against losses or damages that may result from defects in the title of the property. Title defects can arise from many sources, such as errors in public records, missing heirs, or disputes over ownership. Title insurance provides financial coverage for these types of issues, should they arise in the future. 

Common title issues include:

Some benefits of title insurance include:

While title insurance provides comprehensive protection against title defects, it does not cover every type of loss or issue that may arise. Some limitations of title insurance include:

Every title insurance policy is unique, so it's important to understand its limitations and the scope of coverage provided by your title insurance policy to fully understand the protection it provides.  A real estate attorney can assist in the review and interpretation of the title insurance policy and provide guidance on the scope of coverage provided. An attorney can also assist in identifying and resolving title issues or defects, which can help minimize the risk of losses covered by the title insurance policy. In addition, an attorney can help ensure that the title is transferred correctly and the closing process is handled correctly. Having a real estate attorney involved in the process can provide peace of mind and help ensure a smooth and secure real estate transaction.