Determine if you need title insurance for your home purchase.
All your work has finally paid off! You’ve just found your dream house and you want to make sure that the sale goes ahead. When calculating costs and cutting down on budgets, you do not want to ax the title insurance expense. Just because the house is in the city and has had the same owner for thirty years, there could be problems with the title?
What is title insurance?
The purchase of a home is often the single largest investment people will make in a lifetime, therefore, the importance of fully protecting such an investment cannot be overstressed. Title insurance is protection which assures that the rights and interests to the property are as expected, that the transfer of ownership is smoothly completed and that the new owner receives protection from future claims against the property. It is the most effective, most accepted and least expensive way to protect property ownership rights.
Title insurance covers events relating to the title that have already happened. It doesn’t cover anything that happens to the title after the date of issuance.
In the event that there is a claim against your rights of ownership in the property, your title insurance company will cover the fees associated with defending against the title claim. Without insurance, you could face huge legal fees and costs. In short, it’s reliable coverage that protects your investment. Sleep easy and secure coverage today.
While you secure the needed insurance for your next home purchase, allow the team at Eastland Escrows to care for your escrow needs in Covina and neighboring cities in California.