Homebuyer’s Education
Ensuring Peace of Mind with Title Insurance at DRG Title Agency
At DRG Title Agency, we recognize that real estate ownership is a cornerstone of freedom in the United States. You deserve the confidence that the property you’re investing in belongs to you, without any unforeseen claims or restrictions.
Title insurance is the linchpin of this assurance. It’s meticulously crafted after an exhaustive examination of public records. Even the most meticulous search can’t guarantee an absence of title issues. The uniqueness of title insurance lies in its role—it protects you from losses stemming from past matters or faults, not future uncertainties. You pay a one-time premium for a policy that remains effective as long as you own the property.
What is a Lender’s Policy? A lender’s policy safeguards the lender against losses due to unknown title defects. It also secures the lender’s interest from certain undisclosed issues.
What is an owner’s policy? An owner’s policy protects you from losses related to ownership or interest in the property, safeguarding your equity.
What an owner’s policy provides:
- Financial loss protection due to title demands.
- Coverage of legal costs if title defense is required.
- Payment of successful claims against the title.
Why does the seller need to provide title insurance? Any purchaser needs evidence that their property investment is free from title defects. Providing a title insurance policy assures them that they’re acquiring a clear title, unencumbered by legal attachments, facilitating the transaction.
Why does the buyer need title insurance? Title insurance is your shield against errors in public records, hidden defects, or title examination mistakes. It ensures you’re defended against prior liens, judgments, or claims.
How much does title insurance cost? Premiums are regulated by the insurance commission and depend on the property’s purchase price.
What does title insurance protect from?
- Undisclosed heirs: When individuals entitled to inherit property or assets are not known or acknowledged by the deceased person’s legal documentation.
- Forged deeds, mortgages, wills, releases, and other documents: Protection against fraudulent or counterfeit paperwork pertaining to property transactions.
- False impersonation of the true landowner: Safeguarding against fraudulent individuals claiming to be the legitimate property owner.
- Deeds by minors: Covering situations where individuals below the legal ownership age execute property deeds.
- Documents executed by a revoked or expired Power of Attorney: Protect against unauthorized property transactions due to lapsed or invalid Power of Attorney.
- False affidavits of death or heirship: Coverage for cases involving dishonest affidavits related to death or inheritance.
- Probate matters: Title insurance provides security in situations concerning the legal estate distribution process.
- Fraud: Protection against fraudulent activities impacting property ownership.
- Deeds and wills by persons of unsound mind: Coverage in cases where property documents are executed by individuals lacking legal capacity.
- Conveyances by undisclosed divorced spouses: Safeguarding against hidden claims or interests from unknown former spouses.
- Rights of divorced parties: Protection in instances where property rights of divorced individuals are involved.
- Deeds by persons falsely representing their marital status: Coverage for situations where marital status is misrepresented in property transactions.
- Adverse possession: Protection against claims arising from unauthorized property occupation.
- Defective acknowledgments due to improper or expired notarization: Coverage in cases of improper notarization in property documents.
- Forfeitures of real property due to criminal acts: Protection in situations where property is at risk due to illegal activities.
- Mistakes and omissions resulting in improper abstracting: Coverage for errors or omissions in the property’s abstract, which may affect its ownership status.
- Errors in tax records: Protection against discrepancies or inaccuracies in property tax records that could impact ownership.
DRG Title Agency provides peace of mind by addressing these potential risks associated with property ownership. we work tirelessly to ensure your real estate investment is free from unforeseen legal challenges.