Have you purchased a used car from a stranger? What would you do to make sure that the car is indeed belong to that seller? How can you be sure the car is not a stolen car? Or the car belong to some else. What are the consequences for buying the stolen car? The worse is loosing the money plus may be jail time. Just as importance as buying a car from stranger here are a few reasons why you needTITLE INSURANCE
Prior to the sale of the property , title company does a detailed search of the property through county records to eliminate any problem which may arise pursuance to issuing a policy.
TITLE INSURANCE protects buyers and lenders against any "CLOUD" on the title caused by any of the following: FRAUD, FORGED DEEDS, JUDGEMENTS & LIENS, UNKNOWN OWNERSHIP FROM HEIR OR WILL ETC..
TITLE INSURANCE gives you insurance claims by other parties, effective the day the policy is issued.
TITLE INSURANCE provides a provision for payment of any legal fees which may come as a result of a claim against a property which is covered by a policy.
The policy contains provisions for protection against any losses resulting from a claim.
Please note that TITLE INSURANCE premiums are paid at the close of sale. This is part of the closing cost from the transaction.