Category: Title Insurance Agency Boca Raton

4 benefits of title searching

When an individual intends to buy a property, it means they want to enjoy the right to use it and, in the future, transfer the ownership to their legal heir. A title can be obtained in several ways.

The survivorship right is one of the vital aspects where joint tenants let the surviving co-owner absorb the share of the deceased co-owner’s property.
However, a dispute arises when third parties like government organizations or mortgage institutes claim their rights. The government may have liens against unpaid taxes, while the bank may have loan dues. Here is where you need the help of a title search.

Title Search agencies near Boca Raton are quite well-equipped to unveil the property history without wasting any time.

Benefits of title searching
Through proper analysis of public records and other property-related documents, a professional title searcher tries to disclose the history and current status of the property. If a prospective buyer seeks a mortgage loan, the lender conducts a third-party title search to get the “clean” report.

Several issues can create trouble in the sale of the property, such as:

a. Forged or fake documents
Fraudsters may impersonate the trademarks and signatures of the legal property owners and try to create trouble.

b. Expired or fabricated power of attorney disputes
Illegitimate titles are owned by the individuals who have fabricated power of attorney documents or are carrying expired power of attorney documents.

c. Printing errors
The most common title disputes arise when the records/documents are not properly indexed, similar names are transcribed and the original documents are lost.

d. Illegal possession of the property
Disputes arise when the joint owners are separated but not divorced, or the property is owned by illegitimate successors.

Consider hiring professionals from the Title Search agencies located near Boca Raton to avail the best professional service and get the much-needed peace of mind.

Frequently Asked Questions on Title Insurance Policy

Do you wish to own a property without any property claim disputes? Do you want to get protection against any unwanted legal claims over the property you purchase? You can get a property with assurance or ‘warranty’ to get proper legal assistance against any property-related claim.

Title Insurance Agencies in Boca Raton can help buy the best title insurance policies without digging deep holes in your pocket.

If you are purchasing a property, it would be a great idea to buy a title insurance policy, as it can compensate you in any title-related disputes and also covers the legal expenses.

How long can the title insurance stay functional?
The lender’s policy for title insurance lasts until the mortgage amount is paid in full. The homeowners title insurance policy lasts until the owners and his/her successors are alive and stay interested in the property related matters.

Title insurance: what it doesn’t cover?
As a homeowner, you may complain that there’s oil leakage, dampness & mold, or a termite issue inside your home, and you may want to obtain compensation for that. But title insurance does not protect you against the home’s conditions. Rather, it deals with ownership related issues.

How to calculate the title insurance cost?
For the title insurance, all you need to pay is a one-time premium to keep all the ownership related disputes at bay. The cost of title insurance is calculated by the insurance agency’s cost (rate per thousand) multiplied by the property purchasing price.

Can you take ownership of a property without purchasing title insurance?
Of course, you can buy a property without any title insurance. You can look for the public records and do some research, but the entire process would take up a lot of your time and effort.

Consider hiring Title Insurance from a reputed Agency, located near Boca Raton, and have peace of mind when you purchase a local property.

Title Insurance Agency Boca Raton

Title insurance can help the homeowner resolve the ownership related disputes and title defects along with the required legal support to handle similar claims. Title insurance entitles you to get protection for 7 years against any such conflicts. If you wish to get your title insurance done, consider hiring services from Title Insurance Agency Boca Raton.

There are two types of title insurance policies.

Owner’s title insurance policy
The title insurance for the homeowners protects them against any legal title claim. The insurance provides legal and other assistance when someone sues the homeowner or says that they have claims on the property before the current owner’s purchase.

Lender’s title insurance policy
To protect their investment, lenders insure their property against fire and theft. Similarly, to protect their investment against any title-related disputes, title insurance is necessary.

What kind of title claims may arise?
1. Dispute on property inheritance.
2. Disagreements on the seller’s property selling rights.
3. Undisclosed lawsuits/liens discovered.

Benefits of title insurance

1. Covers the cost of litigation
Once the homeowners get title insurance, this would cover the litigation cost as well. Rest assured that legal expenses like documentation costs, settlement charges, legal procedure costs, etc. would be taken care of by the insurance company.

2. Saves your time, money, and effort
Insurance agencies also provide legal ‘out-of-the court’ settlement assistance and do whatever is legally needed to resolve the ownership dispute. Since the insurance company takes care of the cost and procedure, it can save your time money, and effort.

3. Protects the residential projects
Title insurance provides a protective shield to the developers and residential projects against any legal disputes. A residential project needs several months (or years) to complete, and if there’s any legal dispute discovered during the construction phase, it would be difficult for the developer to cover the costs.

No doubt, a title insurance policy is necessary for anyone who is dealing with real estate (property selling/lending/buying). To get the best quotes and hire the best lawyers, consider consulting Title Insurance Agency Boca Raton.