What is Title Insurance?
Title insurance is a form of insurance specifically for real estate transactions. Due to the massive scale of money involved and the potential for disastrous legal entanglements anyone could encounter, some sort of guarantee of safety is needed.
Although often overlooked or outright ignored, title insurance may be the most important insurance any homebuyer could purchase.
Title insurance protects buyers against unexpected claims against property that could otherwise invalidate their property purchase with no reclamation of money spent. In other words: you could buy a house and later find out the person who sold it didn’t fully own it, and now a co-owner is demanding the property back. You’d find yourself in a legal bind, since you didn’t purchase it properly. You may be out of a home AND out of the money spent. Title insurance protects you from situations like this.
How it works
Unlike other types of insurance, title insurance requires only one premium payment at the time of purchase, and it covers the buyer for the life of the buyer and the buyer’s heirs. Title insurance helps fight for legal protection of the title of the property against claims.
How to Avoid Title Issues
It’s best to have title insurance and not need it. The best way to avoid snafus in homebuying is to have a professional title examination performed.
Allow OneBoston Title to help
OneBoston Title can help in this matter. Our legal experts will search thoroughly through public records to discover any obvious problems and any not-so-obvious problems. We are also able to negotiate on your behalf past any legal problems if any should appear. We can also help you obtain appropriate title insurance.
Call today at 800-961-8685 or 617-221-9889 for assistance.