Why
Title Insurance?
Owning property and having free access
and control over that property means more than simply having
the deed in your hand. A deed does not sufficiently guarantee
that you have free and clear ownership of your property.
Any number of things can go awry during
a purchase. A defect in the title could lead to serious
delays in your real estate closing, or threaten the ownership
of your property after the purchase. In some cases the
defect is hidden and cannot be discovered by even a thorough
examination of public records.
Some examples of title defects include:
- Forged documents and fraud
- Homestead rights of a spouse
- Undisclosed heirs
- Deeds by minors or persons
of unsound mind
- Wills not probated
- Unpaid taxes
- Misrepresentation of marital
status
- Errors of recording officials
All of these possible title defects could
cause your claim or real estate closing to be delayed or
invalid. That’s why title insurance is an essential
component of property ownership. Title insurance protects
the purchaser against serious financial loss in the event
that the status of the title is misrepresented and if the
insured suffers a loss as a result of the title defect.
Other than for your security, another
positive aspect of title insurance is that, unlike other
forms of insurance, the original premium for title insurance
is a one time only cost to you. There are no annual payments.
You pay just once and get complete peace of mind year after
year.
Insurance:
In addition to title insurance, which
guarantees the property you purchase is free from undisclosed
information; Mahony Title Services is also able to provide
other forms of insurance through our business associates
RE/Source Partners, Inc., or RPI.
Insurance available includes:
- Homeowner
- Rental Property
- Mobile Home
- Commercial Property
- General Liability
- Automobile
- Boat
- Flood Insurance
Title Underwriters:
- First American Title Insurance Company
- Commonwealth Land Title Company
- Fidelity National Title Insurance Company
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