Why Title Insurance Matters
As a title insurance agent, Ochoa & Rubio, P.A., we understand that title insurance is a critical safeguard for homeowners and property buyers. Title insurance provides additional assurances that you will own your new property free and clear of any encumbrances. It is peace of mind for what may be one of the most significant investments of your life.
Safeguard Your Most Valuable Asset
Your home is likely the most significant asset you'll ever own. Issues with your property’s title can restrict your enjoyment and lead to financial losses. Title insurance offers protection against potential hazards associated with title defects. Unlike other insurance types that require ongoing premiums, title insurance is a one-time payment that safeguards you against existing title flaws.
Addressing Title Risks Before Closing
The title insurance process starts with a thorough search of public land records, municipal records, code enforcement files among others. This search identifies any issues affecting the title before the property changes hands. Common flaws include:
- Improperly vested deeds, wills, or trusts
- Outstanding mortgages, judgments, tax and other liens
- Easements
- Incorrect notary acknowledgments or
Title professionals work to resolve these issues, ensuring you obtain a "clear" title.
The Hidden Risks You Should Know About
Even the most comprehensive title searches can miss defects not found in public records. Your Owner’s Title Insurance Policy shields you from unforeseen hazards such as:
- Mistakes in recording legal documents
- Deeds from minors
- Forged deeds, releases, or wills
- Undisclosed or missing heirs
- Deeds executed by persons of unsound mind
- Invalid or expired power of attorney documents
- Unpaid taxes or liens
- Fraud
Don’t Rely on Lender’s Policy Alone
Mortgage lenders and banks have a vested interest in your property and rely on title insurance to protect themselves from those same unforeseen title issues. While they obtain a Lender’s Policy covering the loan amount, this policy does not protect your interests as a Buyer. Your separate Owner’s Title Insurance Policy, typically issued for the property's purchase price and lasting as long as you or your heirs maintain an interest in the property, will protect you.
Connect With Us
If you have more questions or need guidance on how the closing process works and how you will secure your Owner’s Title Insurance Policy, our knowledgeable team is here to help. Contact us today to schedule a consultation.
