Often, individuals purchasing property are unaware that they can choose the title company with which they want to work. Instead, they will select the company recommended by their attorney or real estate agent. It is important to note that while these professionals are excellent referral sources, they cannot mandate that you work with a particular title company. And, it is essential that you are involved in the selection process because, while you will be required to purchase a lender’s policy to protect the financial interests of the institution through which you have your loan, you should strongly consider protecting yourself and your financial interests with an owner’s policy. An owner’s policy protects you from hidden title defects that existed before the issue date of your policy. It also covers claims made against the title.
When you purchase a policy through us, we search public records exhaustively to see if there is anything that could compromise the integrity of the title. Purchase of an owner’s title insurance protects you from:
- Mistaken interpretations of wills and trusts
- Deeds executed under false powers of attorney
- Incorrect representation of marital status
- Federal, state inheritance, and gift tax liens
- Errors in tax records
- Discovery of later will after probate of the first will
- Easements not discovered by a survey (if policy includes survey coverage)
Still unsure? Let’s talk it through.