Buying a piece of real estate may be one of the largest purchases in your entire life. When you wish to acquire real estate you are encouraged to check the present and past ownership rights to learn if the person you are purchasing the real estate from is the actual owner, and if there are any limitations to their ownership.
Title insurance protects a potential buyer and lender against possible loss if something in the title documents for the property you are buying, is inaccurate. Most lenders require that you purchase title insurance. You only pay for title insurance once and it will remain in effect until you sell the property or refinance.
Public records are searched to find all documents relating to the title. The documents are examined and used to piece together the history of ownership and claims upon the land. Once the search is complete, the information is then used to determine the title insurance policy. A title examination can discover:
Although you will learn the current and past status of the real estate you are purchasing there is always the possibility a document was forged or a missing heir comes forward claiming the real estate is theirs. Title insurance will protect you from those claims.
Because the purchase of real estate is a significant investment, protecting yourself against any claims to the land is critical. An experienced real estate attorney can conduct or review any title searches and examine a title insurance policy. If you believe you have a title dispute, a lawyer can discuss your options and remedies.
Last Modified: 04-11-2018 07:27 PM PDTLaw Library Disclaimer
We've helped more than 4 million clients find the right lawyer – for free. Present your case online in minutes. LegalMatch matches you to pre-screened lawyers in your city or county based on the specifics of your case. Within 24 hours experienced local lawyers review it and evaluate if you have a solid case. If so, attorneys respond with an offer to represent you that includes a full attorney profile with details on their fee structure, background, and ratings by other LegalMatch users so you can decide if they're the right lawyer for you.