Home Title Insurance – What is it, and Why is it Necessary?

Home buyers understand the importance of buying comprehensive home insurance. In the event of damage caused by unexpected natural disasters, flood or fire, homeowners feel secure knowing their insurance plan will protect them financially.

Home title insurance works the same way, to protect homeowners from legal attacks and disputes over ownership deed of their new home. If you want to get title insurance, then you can browse www.bntc.com.

Although title insurance transaction is often wrapped in the closing service and is handled by real estate agents, property search and an insurance plan is an important part of any residential real estate transactions.

Unlike home insurance, which protects homeowners against future disasters are unpredictable, home title insurance to protect homeowners against an unknown error or a problem with their land certificates that may have occurred in the past.

Such as home insurance, title insurance requires a thorough investigation of the homeland certificates, also known as “property search”, or “land title search”.

Common problems may include one or more of the following:

Accurate records – Sometimes real estate ownership is not transferred legally by the previous owner, but note the wrong title can also be caused by a simple clerical error.

Government liens for unpaid taxes – New property owners are financially responsible for any liens associated with the title of their homes, even if they do not know the secret of their existence.

Other liens – This may include unresolved mortgages, mechanic liens or pre-existing lease.

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