Get To Know Your Title Policy

When purchasing a home, buyers have a daunting amount of matters to focus on…how much earnest money to put down, how to structure an offer, how to address financing, how to address inspection contingency results, and more.  One matter which often gets lost in the shuffle, however, is title insurance,  A purchaser who enters into an agreement to buy real property, and who obtains financing, will have to obtain a policy of title insurance.  To some, title insurance may seem like little more than just another document in the mountain of documents relating to the purchase of a home.

However, far from a mere stepping stone to property ownership, a title insurance policy provides critical information that a prospective purchaser needs to know.  Among other things, it can alert a buyer to relevant easements on the property, potential encroachments and boundary issues, and important covenants that may govern or restrict the use of land.  Moreover, a title insurance policy is equally important for what it does not disclose.  If a title company fails to disclose in its policy an issue affecting the property that should have been disclosed, and the homeowner has to address this issue down the road, that homeowner may have a claim against the title company.  Sometimes, resolving these matters can cost significant amounts of money.  As a result, homeowners should become well acquainted with their policy of title insurance and consider consulting with a real estate attorney to review their title policies, as well as retaining counsel in the event serious problems arise.  Moreover, policies of title insurance are not limited to homeowners.  Lenders often obtain policies to insure their loans, and may also have title claims in the event something goes wrong.

The lawyers at Beresford Booth have extensive experience addressing title issues, and have worked with title companies, homeowners, and lenders to resolve an array of complicated real estate matters.  We would be happy to assist you to achieve prompt resolution to any obstacles that you might face.

BERESFORD BOOTH has made this content available to the general public for informational purposes only. The information on this site is not intended to convey legal opinions or legal advice.