When purchasing a home or any other real estate, you actually don’t receive the land itself. What you get is the title of the property, which may be limited by rights and claims asserted by others. Problems with the title can have major ramifications, including financial loss, as well as limitations on your use and enjoyment of the property. Title insurance is a type of coverage that offers protection against these hazards.
Title insurance is distinct from other types of insurance because it involves a one-time fee, and it protects against losses that arise from defects already existing in the title.
Most lenders require that you purchase for them a lender’s policy of title insurance in order for you to get your loan. But that policy does not protect you. That protection is purchased in an Owner’s title insurance policy that lasts even after you have sold the insured property.
How We Can Help
A lot of work can go into search and examination of a real estate purchase, but hidden hazards may still exist in the title. For example, there may be errors in the public record, a forged deed, or previously undisclosed heirs who claim title to the property. Title insurance provides financial protection against these and other hidden dangers.
Our licensed title agent Michael Rieman can provide you with the title insurance you need.
Contact Us
If you have further questions about how we can help you with your title insurance needs, please call XXX-XXX-XXXX or contact us by email. The attorneys at Dungan & LeFevre have offices in Troy and represent clients throughout the Miami Valley and Ohio.