Everybody Knows Title Insurance Exists but Do You Know What Is It or How It Can Protect You?

Do you want to make sure your property transfer is protected? Are you looking to protect your future homeownership? This article has information which can help you achieve this!

From the moment that a current homeowner hears that are considering looking at or buying a home, they immediately bombard you with all of their knowledge, including tips, tricks, and helpful information to make the process easier. And while their intentions are always good, it happens so often that it all becomes one big jumble, leading many new homeowners to forget important aspects of the process which can't be fixed after the sale.

The Benefits of Title Insurance in Canton, OH

It’s likely that one of the buzz terms being used is ‘title insurance’. While everybody may now know about it, it’s one of the most important aspects of the home buying process and is something which you can only obtain prior to settlement. For this reason, Patriot Title Agency has the following post with some basic information about title insurance and why everybody is telling you to get it!

What Is a Claim over the Title of Your Home

You would be forgiven for thinking that once you pay for your home and you receive that there isn’t anything anybody can do to take your ownership away. However, the reality of the situation is that there is much which can be done to revoke your homeownership. A perfect example would be a previous homeowner who has used the home as security against a line of credit. If this previous owner ceases to continue their repayments then the financial institution involved can arrange for the immediate foreclosure of your home to recover lost funds. Another example would be an heir from decades ago who becomes aware that they were not notified about an entitled share of the property. Despite it occurring so long ago, a legal claim can be made for a portion of the value of the previous sale.

What Type of Protection Can Title Insurance Afford?

In the event that one of the above, or many other instances occur, your title insurance provider can step in and settle any financial claims on your behalf, leving you to continue enjoying your ownership of your new home. For example, if an un-notified heir is seeking a portion of the previous sale of the property then your title insurance policy could cover this payment. Similarly, if a financial institution wanted to foreclose your home to seek recovery of owed funds from a previous owner then this is an item which your title insurance policy can cover. When it comes time to buy a home, be sure that you complete your due diligence thoroughly and obtain title insurance in Canton, OH. Available only prior to settlement, title insurance in Canton, OH provides financial protection in the event that a challenge is made against the ownership of your property. Call Patriot Title Agency today at 1-866-475-3005 to find out more about how title insurance can benefit you and your home ownership.

Do I Need Title Insurance?

There was a time when you were able to identify the security of a title just by giving its history a brief look, often simply speaking with the previous owners. However, times have changed and while people aren’t necessarily more malice, with processes become more and more complex it has not only become more difficult to follow all aspects of due diligence but also more difficult to easily identify any potential problems. The results of this complexity are often instances where important aspects of due diligence and checks are missed, leading to the potential for serious financial implications. The best and only way to protect yourself from situations such as these is with a through title insurance policy, purchased before settlement of the property occurs. After a one-time fee is paid, a title insurance policy provides homeowners with peace of mind that, in the event that their home ownership is challenged, they will have financial protections afforded to them, resulting in little to no disruption to a homeowner's enjoyment of the property.

Title Insurance in Canton, OH

If you are about to settle on a home, speak with Patriot Title Agency first at 1-866-475-3005 and find out how title insurance in Canton, OH can provide you with the peace of mind that your title and home ownership is protected. Available only prior to settlement, be sure to speak with Patriot Title Agency before you sign any papers and before any checks are handed over.