The question is often asked, "what is title insurance and why do I need it?" Our guest writer this month is Rebecca Schwartz from Chicago Title Insurance Company to explain the importance of title insurance.
WHETHER IT'S PICKING OUT PAINT CHIPS, PLANTING A NEW GARDEN OR UNPACKING ALL THE BOXES, MAKING YOUR HOUSE A HOME IS PRIORITY.
When that dream is finally realized, why wouldn't you take every caution to protect it?
Our business is protecting ownership of your property: often the largest financial transaction you'll make in your life. For a relatively low, one-time premium, you're protected against legal problems over property rights that could cost tens of thousands - even the loss of your home. Dollar for dollar, an owner's title insurance policy is one of the most cost-efficient forms of insurance for homeowners. Best of all, your one-time premium protects you for as long as you or your heirs own your property.
HOME
The place where you live is also one of your most valuable possessions. But did you know that ownership of your home could be threated -- or even taken away from you -- even if you've paid for the property and received a deed?
WHAT IS TITLE INSURANCE?
Owner's title insurance protects your right to your home.
By searching, clearing and insuring the title on your home before you buy it, your owner's title policy offers protection for your property rights for as long as you and your heirs own your home.
If ownership of your property ever comes into question, an owner's title insurance policy protects you from expensive legal problems that could result in the loss of your home.
HOW TITLE INSURANCE WORKS
As property changes hands, mistakes and irregularities -- often made long before you expressed interest in the property -- can place your ownership in dispute. The seller may have...
...avoided disclosure of using the property as collateral for an unpaid loan.
...fraudulently claimed to be the sole owner.
...failed to pay real estate taxes.
Even a simple mistake in the recording of legal documents, improper education of legal instruments or the reappearance of undisclosed or missing heirs can result in the loss of your home.
PROTECT YOURSELF AND YOUR FAMILY WITH THE SECURITY OF
OWNER'S TITLE INSURANCE
We diligently search public records for documents associated with the property and provide you with an expert, interpretive view of the impact of all recorded matters on the property's title.
If our search reveals recorded defects, liens or encumbrances upon the title, such as unpaid taxes, unsatisfied mortgages, easements, restrictions or other impediments, these are reported to you prior to your purchase of the property.
We offer solutions to resolving these impediments so you can own your property free and clear at closing.
TITLE INSURANCE: THE ULTIMATE PROPERTY PROTECTION
If ownership of your property is ever challenged, Chicago Title Insurance will defend your possession of the property -- and assume the legal cost of the defense -- for as long as you and your heirs own the property. What's more, if any challenge to your property's title proves to be legitimate, Chicago Title Insurance will pay for your losses, just as your title insurance policy provides.
Your entire real estate investment depends upon receiving clear title to your property. Take advantage of Chicago Title's expertise, strength, and superior service for your peace of mind and the ultimate in protection for your property.
Get the complete security you need with
CHICAGO TITLE INSURANCE COMPANY'S FOUR PILLARS OF PROTECTION
