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KNOW YOUR RIGHTS WHEN BUYING REAL ESTATE
Know Your Rights When Buying Real Estate BUSINESS WIRE Business Wire CanadaApril 16, 2013, 10:46:16 PM EDT April 16, 2013 02:33 PM Eastern Daylight Time
WASHINGTON--(BUSINESS WIRE)--As the spring home buying season begins, the American Land Title Association (ALTA) reminds consumers of the importance of title insurance when purchasing real estate and protecting their rights to property.
“Title insurance professionals research the history of a property by scouring through public records to determine whether title problems exist”
"For most Americans, our home is the single largest financial investment we make,” said ALTA president, Frank Pellegrini. “More importantly, it’s where we raise our families, share time with friends and live our lives. While ownership of our home may seem very straightforward, our rights to enjoy our property aren’t always as clear.”
Homeowners can purchase, for a one-time fee, an owner’s title insurancepolicy, which insures that consumers are protected in the case of known liens or encumbrances, such as unpaid mortgages, property taxes or child support liens.
“Title insurance professionals research the history of a property by scouring through public records to determine whether title problems exist,” said Pellegrini. “When a title professional finds an issue, they work to resolve it– typically without the ... more
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