Buying a home is a huge deal and it is likely the largest investment any of us will make in our life, so getting title insurance is definitely a must.
Why? Just think of the fact that when you purchase a home, you technically are not buying the actual building, but the right to be entitled to the property – the right to use the space. Title insurance will serve as a protection for your ‘title’ against hazards that may threaten your financial investment in your home.
One common example is having limited authority, limited by rights and claims asserted by others that may restrain your use and enjoyment of the property and even bring financial loss. Your title insurance will offer financial safeguard against this and other hazards that result in unwanted and extremely costly surprises.
Other examples of title hazards:
- Errors in public records
- An unknown individual who claims to be the heir and owner of the property
- A forged signature on deed – Meaning no transfer of ownership to you
For more information, contact your local Title Insurance provider to see if it is the right fit for you.