If you are planning to buy a property, you may have heard of title insurance. But what is it and why do you need it? In this blog post, we will explain the basics of title insurance and how it can protect you from potential risks and losses.
Title insurance is a type of insurance that covers the legal ownership of a property. It protects you from claims or defects that may affect your right to use or sell the property. For example, title insurance can cover you if:
- There is a dispute over the boundary or easement of the property
- There is a fraud or forgery in the title documents
- There is an error or omission in the title records
Title insurance is different from other types of insurance because it covers past events, not future ones. It is also a one-time payment, not a recurring premium. You pay for title insurance on settlement day and it lasts as long as you own the property.
Title insurance can save you from a lot of hassle and expense if something goes wrong with your title.
To get title insurance, we arrange everything for you. We assist in the preparation of the application and ensure that the premium is paid on settlement day. Finally, a title policy will issue, which is the actual contract of insurance.
Title insurance is an optional policy offered to all purchasers. We highly recommended for anyone who wants to buy a property. It can give you peace of mind and security that your investment is protected. If you have any questions about title insurance, feel free to contact us or click here
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