Title Insurance offers a peace of mind for homebuyers, and is an essential part of home ownership.
Title Insurance protects the policyholder from unknown defects in title that could affect the enjoyment of the property, or lead to the payment of valid claims or costly litigation. While title examiners and abstractors are diligent, things can be inadvertently missed in a title search or, more commonly, something has been improperly recorded or omitted and could never be found. Common title problems arise from mistakes in the recording process, errors in deeds such as incorrect or incomplete property descriptions, failure of a spouse to disclose that the property was owned in community, failure to disclose heirs, forgery of documents and signatures, and more.
There are two types of title insurance policies: the owner’s policy and the lender’s policy. A common question we face at the closing table is, “Why do I need both?” A lender’s policy only protects the lender’s interests in the property insured. The owner’s policy protects the owner’s interests in the property. Title insurance will help the owner pay valid claims and assist with the costs of defending the owner’s title.
At All American Title, we provide expanded title insurance to our customers. This ensures that they receive the greatest protection against title defects. Please consider us for you closing needs, and tell a friend. Contact Christina Lowrance for additional information 985-641-8002.