Owner’s title insurance protects your right to your property for as long as you and your heirs own the property.
WHY INSURE THE TITLE TO YOUR PROPERTY?
With a title insurance policy, you as owner, have an indemnity contract that will reimburse you for loss in the event someone asserts a claim against your property that is covered by the policy.
Title Defects After Title Search
Title insurance is issued after a careful examination of copies of the public records however even the most thorough search cannot absolutely assure that no title hazards are present, despite the knowledge and experience of professional title examiners. In addition to matters shown by public records, other title problems may exist that cannot be disclosed in a search.
If title search reveals recorded defects, liens, or encumbrances upon the title, such as unpaid taxes, unsatisfied mortgages, easements, restrictions, or other impediments, Charles H. Ball & Associates, as an Attorney office, can resolve these impediments so the property title is free and clear at closing.
Protection Against Defects & Hidden Risks
Some of the most common hidden risks that can cause a loss of title or create an encumbrance on title which title insurance protects against:
- False impersonation of the true owner of the property
- Forged deed, releases, or wills
- Instruments executed under invalid or expired power of attorney
- Undisclosed or missing heirs
- Mistakes in recording legal documents
- Misinterpretations of wills
- Deeds by persons of unsound mind
- Deeds by minors
- Deeds by persons supposedly single but in fact married
- Liens for unpaid estate, inheritance, income, or gift taxes
Title insurance will pay for defending against any lawsuit attacking your title as insured, and will either clear up title problems or pay the insured’s losses. For a one-time premium, an owner’s title insurance policy remains in effect as long as you, or your heirs, retain an interest in the property.
Meaning to You
The peace of mind in knowing that the investment you’ve made in your property is a safe one.
From Fidelity National Title, our Underwriter. Please find more details regarding Owner’s Title Insurance on Fidelity National Title’s website here.
Charles H. Ball & Associates, PA – 1444 1st Street B, Ste B – Sarasota, FL 34236 – phone: 941-952-1500 – fax: 941-761-6777
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