23 Ways You Could Lose Your Home & Why You Need Title Insurance

*  Forgery

*  Fraud in connection with the execution of documents

*  Undue influence on a former owner or executor

*  False impersonation by those purporting to be owners of the property

*  Incorrect representation of marital status of former owners

*  Undisclosed or missing heirs

*  Wills not properly probated

*  Mistaken interpretation of wills or trusts

*  Mental incompetence of former which may rule a sale void

*  Conveyance by a minor or other person legally incompetent

*  Birth of heirs subsequent to the date of a will

*  Inadequate surveys

*  Incorrect legal descriptions

*  Not properly delivered deeds

*  Unsatisfied claims against your property not shown on the record

*  Deeds executed under expired or false powers of attorney

*  Confusion due to similar or identical names

*  Dower, courtesy or other marital rights of spouses of former owners

*  Incorrect indexing

*  Clerical errors in recording legal documents

*  Delivery of deeds after the death of a former owner

*  Real estate tax authority errors or omissions

*  Mechanics’ liens not yet of record

Keep your biggest investment safe with Owner’s Title Insurance

• Lender’s Title Insurance only protects the lender.

• Owner’s Title Insurance protects you.

• Protect your investment in your home just as you would protect your home from theft or fire – make sure you purchase Owner’s Title Insurance.

What is Owner’s Title Insurance?

Owner’s Title Insurance provides you with protection against the loss of your home caused by somebody in the future finding a defect in your title.

What if I don’t have Owner’s Title Insurance?

If a problem with your title occurs and you don’t have Owner’s Title Insurance, you could lose everything you’ve invested in your home or face expensive legal costs.

How does Owner’s Title Insurance protect me?

If someone initiates a claim against your title, having Owner’s Title Insurance provides you with a legal defense and, if your title should fail, reimbursement of the equity in your home up to the face amount of your policy. It also covers attorney’s fees. In short, Owner’s Title Insurance protects you against losing your investment in your home.

Doesn’t Lender’s Title Insurance protect me?

No. If there is a complete failure to title, you have no protection and would lose both your property and your equity in the property. The lender, because of their Lender’s Title Insurance, is the only one protected.

What if my attorney reviews the title?

Real estate titles have hazards that even the most competent attorney can not discover – hidden defects such as improper indexing of records, forgery of documents, unknown or missing heirs, and more. And worse, your attorney cannot be held liable should you suffer loss because of any hidden title defects.

How much does Owner’s Title Insurance cost?

In short, not much. The basic premium rate for Owner’s Title Insurance is approximately $1.00 per $1,000 more than Lender’s Insurance. That means the Owner’s Insurance premium for a $115,000 home is only $115 more than Lender’s Insurance. You only pay the premium once – there are no recurring premiums.

The policy is effective for as long as you, or your heirs, have any interest in the

property. Plus, you are covered even after the property is sold.

When do I need to get Owner’s Title Insurance?

During the course of the purchase of your new home. If it is not mentioned, you should specifically request the option to purchase Owner’s Title Insurance.