After making what is probably the largest purchase of your lifetime, we like to give you a little peace of mind. A title insurance policy takes the risk out of purchasing property whose legal history is unknown to you. Although there shouldn’t be any risks in acquiring property, they do exist. Through out history, your property probably has changed ownership many times through sales or possibly inheritance or foreclosure. Each time it changed hands, another opportunity for a mistake, or an error in title had arisen. If an error had occurred and was never brought to attention, your title could be jeopardized. You could lose your property and the money you paid for it, or the money you have spent to improve it. And, even if you successfully defend your rights, the cost you’ve paid in stress, time, and monetary fees have taken their toll.
Below is a list of potential risks in which a title policy issued by TitleWorks, LLC protects you against:
Confusion in similarity of names
Forged documents
Signatures of minors or mentally incompetent persons
Mistakes in recording legal documents
Undisclosed or missing heirs
Fraud
Invalid divorces
Misrepresentation of marital status
Unpaid taxes or assessments
Clerical errors in public records
Wills not probated
In simple terms, if a flaw in title is discovered and your rights of ownership is challenged, a title policy provides coverage for legal expenses to defend title and provide for reimbursement in the event of a loss. Most importantly, a title insurance policy issued by TitleWorks, LLC guarantees that the property you are purchasing is free of undisclosed liens, confusion in the rights of ownership, and other clouds on the title. In short, it guarantees that you own the property for which you bargained.