Don’t wait until it’s too late: Title insurance protects you.
A title insurance policy protects a real estate owner or lender against any loss or damage that they might experience because of liens, encumbrances, or defects in the title to said property. Unfortunately, numerous defects and problems can arise to cause an attack or loss of the title to your property. Some of these include problems that were not disclosed or even found by the title search. That’s right; homeowners need to be aware of hidden risks that can cause a total loss of the investment or substantial legal expense defending the title.
Some title problems may show up months after the original purchase. Some may come many years later. Here are a handful of circumstances that could prompt an expensive lawsuit:
- Forged deeds, releases, wills, or other legal documents
- Failure of spouses to join in conveyances
- Undisclosed or missing heirs
- Errors in indexing of public records
- Liens for unpaid taxes including real estate, inheritance, income, or tax gifts
- Mistakes in recording legal documents
Fortunately, title insurance is there to defend you when a lawsuit attacks your title. Should you face an attack on your title, one that cannot be discovered by examination of the public records, then Fidelity National Title can help.
If a claim is made against your title, one that is covered by your policy, Fidelity National Title protects you by:
- Defending your title, in court if necessary, with no extra expense.
- Bearing the cost of settling the claim if it proves to be valid, in order to perfect your title and keep you in possession of your property.
Furthermore, the policy protects you after you sell the property for the defects occurring prior to your ownership that cause a loss to a purchaser if you warranted the title.
The title policy guarantees that the date the deed was filed for record placing title in the name of the insured and that it was free of defects. The policy does not guarantee an actual amount of land.