TITLE INSURANCE

Obtaining title insurance is a very important part of the home buying process and it is required in any transaction in which the buyer is obtaining a mortgage in order to purchase the property. Despite its widespread use in most real estate purchases, most people don’t fully understand how important it is.

WHAT IS TITLE INSURANCE?

Title insurance protects the homebuyer, property owner and the lender from any issue that could possibly prevent them from securing free and clear ownership of the property.

It is insurance against undisclosed problems with the title, and it protects against financial loss due to title defects, liens or other matters of public record. Title insurance will defend you against a lawsuit attacking your title, or reimburse you for the actual money lost.

A title search can bring up all kinds of issues, so if your property deed comes with some things that you don’t understand, you’ll need a reliable title company to turn to for information as how to correct any issues which may be present.

Before a policy is issued, Power Abstract will conduct in-depth research to detect, prevent, and eliminate risks and losses caused by title problems. We do this by searching public records such as deeds, mortgages, paving assessments, liens, wills, divorce settlements and other documents to develop and document the chain of title to the property and by identifying all outstanding claims.

HOW WE HELP

POTENTIAL TITLE ISSUES

Z

Unpaid taxes

Z

A lien on the property

Z

Forged title documents

Z

Heirs not disclosed in the title documentation

Z