Title
Insurance
Title
Insurance...
What It Is.
Fire
Insurance
protects you
against loss
from fire.
Collision
insurance
guards you
against the
cost of a
damaged car.
Theft
insurance
-well, you
get the
idea. Title
insurance
protects
your title
to real
estate that
you are
about to
acquire. To
understand
why title
protection
is
essential,
we need to
consider
real estate
for a
moment.
Your
Ownership of
Real Estate.
Real estate
has always
been
considered
man's most
valuable
possession.
It is so
basic a form
of wealth
that many
special laws
have been
enacted to
protect
ownership of
land and the
buildings
which stand
on the land.
You should
realize
whenever you
buy property
that the
owner who is
selling it
to you has
extremely
strong
rights as do
his family
and heirs.
Also, there
may be
others - in
addition to
the owner -
who have
"rights" in
the property
you are
going to
buy, perhaps
governmental
bodies, or
contractors,
for
example.
Some of the
things a
title search
uncovers are
any unpaid
taxes or
mortgages
judgements
against
previous
owners,
easements,
and many
other court
actions or
recorded
documents
which can
affect title
to real
estate.
We find and
report such
defects in
the title to
the real
estate you
wish to buy,
so that
these
matters can
be corrected
and cleared
up. It is
the first
benefit you
receive when
title
insurance is
ordered.
Protecting
You Against
Hidden
Risks.
Protection
against loss
from claims
on real
estate which
cannot be
discovered
by
examination
of the
public
records is
the second
part of the
two-fold
benefit
which Title
Provides.
For example,
the title to
the home
which you
have paid
for - and to
which you
have
received a
deed - could
be
threatened
or lost be
such
circumstances
as forgery,
confusion
due to
similar
names, or
error in the
records.
These
contingencies
will be
covered in
your policy
of title
insurance.
How Does a
Title
Insurance
Policy
Protect
Against
These
Dangers?
If a claim
is made
against your
title as
covered by
your policy,
Fidelity
National
Title
protects you
by-
1.
Defending
your title,
in court if
necessary,
at our
expense.
2.
Bearing the
cost of
settling the
claim if it
proves to be
valid, in
order to
perfect your
title and
keep you in
possession
of your
property.
Summarizing,
Title
Insurance
Means This
to You:
It is
assurance
that every
possible
cloud on the
title to the
land you are
buying -
which can be
discovered
from the
public
records -has
been called
to your
attention so
that such
defects can
be corrected
before your
buy. And -
it is
insurance
that, if any
undisclosed
claim
covered by
your policy
arises out
of the past
to threaten
your real
estate, it
will be
disposed of,
or you will
be
reimbursed,
exactly as
your title
insurance
policy
provides.
And You Only
Pay Once.
Unlike
other forms
of
insurance,
the original
premium is
your only
cost as long
as you own
the
property.
There are no
annual
payments to
keep your
Owners Title
Insurance
Policy in
force. |