Here are a few reasons why you should definitely consider getting title insurance.
Title insurance is incredibly important for homebuyers, and today we’ll be talking about the top seven reasons why. Here’s what you need to know:
1. It protects you in case problems arise with a defective title. For example, if there’s a fire but you have a cloud on the title, everything will be covered. If you don’t have title insurance, though, your home warranty will only cover the property—not the land.
2. It prevents forgeries. Title insurance stops important documents, such as a deed, from being invalidated due to fraudulent activity.
3. It protects against signatures made by minors. A judge has to see who signs.
4. It protects against signatures from people who lack full mental capacity. For example, a person who is clinically insane cannot sign.
5. Many attorneys require or recommend customers to have title insurance. They do a lot of inter-family trust transfers, and this helps protect everyone involved.
6. Title insurance covers attorney’s fees and court costs. If it deals with an item in your title, the costs will be covered.
7. It will pay out any losses or damages during claims.
If you have any questions about the title services we can offer you, feel free to reach out to us. We look forward to hearing from you soon.