Who doesn’t love surprises? Well, you won’t if you don’t have title insurance. If you’re looking to buy a house, then ensuring your title is clean and clear should be on your list of priorities.

After all, an unclear title can lead to big problems down the line.

What Will Title Insurance Do For Me?

At the end of the day, title insurance protects you from getting caught up in unforeseen ownership problems that could cost you the house.

For example, you may purchase a house from someone who co-purchased the house ten years ago with their spouse. At the time of your purchase, their spouse isn’t in the picture and thus, won’t sign. However, the law dictates that their signature is still necessary to legally sell the house. For you, this means that you don’t actually own the house.

Without title insurance, this mystery person could potentially swoop in and reclaim their home at any time because it is still technically their house. This would be a big problem for you.

Title Insurance Protects You from Multiple Angles.

Have you ever heard of liens? Unfortunately, they can ruin your home buying process whether you know what they are or not. Property liens are basically claims stating the property is up for collateral to settle a debt.

If the house you just bought has a property lien on it, it can be taken from you to clear the debt regardless of whether or not you were informed of or responsible for said lien. Life is not fair, but title insurance will help you keep this sort of nightmare at bay.

In the event that one of these scenarios were to occur, title insurance will ensure that you are protected as any title claims are disputed and settled.

Title Insurance Comes in Two Forms: A Loan Policy and an Owner’s Policy.

Most mortgage lenders will require you to get a loan policy so that their interests are protected through the life of the loan they have issued. This policy will not protect you.

You’ll need an owner’s policy to protect against undisclosed heirs, omissions in the deeds, and other surprises as mentioned briefly above.

Armour Settlement Services is Here to Help You Settle In.

Whether you are investing in title insurance or helping someone navigate the complex world of real estate, Armour Settlement Services is here to assist you. We are experts in all aspects of the closing process and titles. Don’t hesitate to reach out to us via phone at 1.877.TITLE.30 or by using our contact page. Investing in title insurance doesn’t have to be frightening. We’re here to help you.