Friday, November 14, 2008

20 Reasons for Title Insurance

1) Title Insurance will protect you against a loss on your home and land due to title defect.
2) A deed or mortgage in the chain of title may be a forgery.
3) Claims constantly arise due to marital status and validity of divorces.
4) A deed or mortgage may have been made by an incompetent or underaged person.
5) A deed or mortgage made under an expired power of attorney may be void.
6) A deed or mortgage may have been made by a person with the same name as the owner.
7) A child born after the execution of a will may have an interest in the property.
8) Title transferred by an heir may be subject to a federal tax lien.
9) An heir of other person presumed dead may appear and recover the property or an interest.
10) A jusgement regarding the title may be voidable because of some defect in the proceeding.
11) By insuring a title, you can eliminate delays when passing your title on to someone else.
12) Title insurance helps speed negotiations when you're ready to sell or obtain a loan.
13) Title insurance reimburses you for the amount of your covered loss.
14) A deed or mortgage may be voidable if signed while the grantor was in bakruptcy.
15) Claims have risen dramatically over the last 30 years.
16) There may be a defect in the recording of a document upon which your titile is dependant.
17) Title Insurance covers attorney's fees and court costs.
18) Many lawyers protect their clients as well as themselves by procuring title insurance.
19) A deed or mortgage may have been produced by fraud or duress.
20) A title policy is paid in full by the first premium for as long as you own the property.

Provided by The KEY Team - Preferred Professional:

Kelcey Myers
Fidelity Title, Sales Manager
Direct: (425) 239-7765

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