May 26, 2018

Do You Need or Should You Get Title Insurance?

In order to make an informed decision, here is some background information about title insurance. ‘Title’ is the legal term for ownership of property.  Buyers want “good and marketable” title to a property.  Marketable title means title the buyer can convey to someone else.  Prior to closing, public records are searched to determine the previous ownership and dealings of the property.  The search might reveal:  existing mortgages, liens for outstanding taxes, utility charges, etc., registered against the property.  At closing the buyer expects property that is free of such claims and should be cleared up before closing. Sometimes problems (or…

Read More