There are good reasons to purchase title insurance when buying a house. Your closing attorney will perform or order a title search, which reveals problems with the chain of ownership that prevent the seller from giving you a good title. However, searches don’t always reveal everything. Just as homeowners insurance protects you from paying claims out of your pocket, title insurance protects your property ownership rights if situations occur such as the ones below.

4 Real Estate Problems Protected By Title Insurance

1. Mistakes in Public Records

Human errors are facts of life, but when they affect your property rights, you need help. Buying a title insurance policy protects you from mistakes such as a secretary typing a deed description incorrectly or a county clerk recording or filing a deed improperly.

2. Undiscovered Liens

An old lien, mortgage, or agreement that restricts your use of the property may not be discovered when you purchase your home. A person holding the lien or their successor might raise the issue with proof later. If you’re not insured, you might have to pay off the debt from your own funds or abide by the restriction without receiving compensation.

3. Fraudulent or Illegal Deeds

If a deed in the chain of title is not legitimate, it could taint your ownership rights. Fake deeds by non-owners and deeds to or from people without the legal capacity to enter into them can eliminate your right to possess the property.

4. Boundary Disputes

Confusion about where property lines begin and end can lead to disputes that reduce your land ownership rights. If it turns out you built your house on part of your neighbor’s lot, title insurance covers the expenses of resolving the matter.

When buying real estate, it’s wise to get protection from the effects of common title problems by purchasing title insurance. Scarab Title & Escrow Services, LLC in New Port Richey, FL, features skilled title agents who combine up-to-the-minute technology and traditional techniques to protect you. They help you guard against anything in the chain of title that might impact you before or after you close your deal. Learn more about the full scope of their services now. Visit them online and call (727) 378-4553 today for an appointment.