As the spring homebuying season moves into full swing, the American Land Title Association (ALTA) is encouraging consumers to consider title insurance to make sure their “American dream” is protected.
“Problems with the title of your new home can limit your enjoyment and use of the property,” said ALTA president Frank Pellegrini. “Only an owner’s title insurance policy fully protects the homebuyer should a covered title problem arise.”
ALTA reminds buyers that policies are purchased for a one-time fee at closing and will last for as long as the consumer or their heirs have an interest in the property. Policies protect owners against possible hidden title problems that can include errors or omissions in deeds, mistakes in examining records, forgery, and undisclosed heirs.
“An owner’s policy provides assurance that your title company will stand behind you—monetarily and with legal defense if needed—if a covered title problem arises after you buy your home,” Pellegrini said. “Purchasing a home is often the single largest financial investment a family can make. Your owner’s title insurance policy can help minimize potential issues that could impede your property rights.”
Thanks to Tory Barringer with ALTA for this great article
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