Tittle Insurance

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Tittle Insurance Title insurance is a policy that covers third-party claims on a property that don’t show up in the initial title search and arise after a real estate closing. A third party is someone other than the property’s owner, such as a construction company that didn’t get paid for its work on the home under a previous owner. The term “title” refers to someone’s legal ownership of the property. An owner’s title insurance policy can cover the costs of paying off a previously undiscovered lien or defending against a lawsuit filed against you by someone claiming a right to the property. It can also provide a cash settlement to a new owner who unwittingly purchases a property with a forged deed from a fraudulent seller who did not actually own the home. Further, owner’s title insurance protects your ability to sell the home one day if a problem turns up during a later title search. These are some of the issues an owner’s title policy can protect you against: -Property survey errors -Boundary disputes -Errors on the property deed -Building code violations by a previous owner -Conflicting wills -Claims by an ex-spouse who didn’t authorize the sale -Claims related to a forged power of attorney -Liens from contractors, taxing entities or previous lenders -A former owner’s unpaid child support -Encroachments -Improperly recorded documents The most common claims filed against a title are back taxes, liens, and conflicting wills. #benewinsurance #insurtech #inclusiveinsurance #insurance #reinsurance #takaful

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