Owner's Title
Insurance... What It Is.
Fire insurance protects you against losses from fire. Collision
insurance guards you against the cost of a damaged car. Theft
insurance - well, you get the idea. Title insurance protects your
title to real estate that you are about to acquire. To understand
why title protection is essential, we need to consider real estate
for a moment.Your
Ownership of Real Estate.
Real Estate has always been considered our most valuable possession.
It is so basic a form of wealth that many special laws have been
enacted to protect ownership of land and the buildings which stand
on the land.
You should realize whenever you buy property that the owner who is
selling it to you has extremely strong rights as do his family and
heirs. Also, there may be others - in addition to the owner - who
have "rights" in the property you are going to buy, perhaps
governmental bodies, or contractors, for example.
Some of the things a title search uncovers are any unpaid taxes or
mortgages, judgments against previous owners, easements, and many
other court actions or recorded documents that can affect title to
real estate. We find and report such defects in the title to the
real estate you wish to buy, so that these matters can be corrected
and cleared up. It is the first benefit you receive when title
insurance is ordered. |
