Enhanced title insurance — Who needs it?
Why have title insurance in the first place? Because it protects one of the most important investments you will ever make…your home or investment in real estate! And because your lender will require it. When preparing for your real estate closing, the closing agent will conduct a “title search”, which means that they search the courthouse records for the chain of title on the property you are purchasing. Some of the things they look for include: • Any outstanding liens or judgments on the property • Any unpaid taxes, special assessments or homeowners association charges • Zoning violations • Fraud • Easements • Mistakes in any recorded documents • Forged or improper information on deeds, releases or wills • Any undisclosed heirs Because your lender is providing the money for your purchase, they want to be sure that the property is free of encumbrances.
