Title Insurance

Why title insurance? Paying money and receiving a deed to a property does not guarantee you a free and clear title. Once you own the property you become financially responsible for any valid claims against the property. This can include a whole host of unsettled matters involving the property and/or past owners.

A few examples include liens, delinquent taxes, unpaid municipal bills, an open estate from a previously deceased owner, a missing or forged signature, an incompetent seller, and so much more.

For purchase transactions, Surety Land Abstract conducts an extensive records search of the property, many times going back 60 or more years to determine if any adverse claims may exist and, if so, how to resolve those claims.

The search includes ownership history, tax information, unsatisfied liens, right of ways, easements, covenants, restrictions, and other publicly recorded information.

Even with the best due diligence, however, title defects still can arise which could result in significant financial loss. Title insurance protects purchasers against loss assuring the owner that the title to the property is as represented.

If an insured, after purchase, suffers a loss resulting from a valid defect in the title, the insurer will reimburse the insured for that loss up to the face amount of the policy.

For more info on title insurance and property closings, please contact us today.