What your buyers and sellers need to know about title insurance.

The Fortune Title family knows the closing process can be overwhelming at times, but we’re here to make everything easier. One of the ways we thought we could do that is passing along this quick guide to understanding title searches and title insurance to show how we can be protectors of property rights.

Feel free to give this to your customers. If you’re looking for more information, reach out to the Fortune Title Agency team. You can also check out the American Land Title Association’s homeclosing101.org. It’s a great resource too!

Understanding the title search
The title search includes examining public records to ensure that the seller has the right to sell the home. What exactly are we looking for? Everything from previously undisclosed liens, unpaid child support, tax issues, ownership disputes and fraud, among other issues. It sounds complicated (and sometimes it can be), but we’re here to make the process easy for you.

So, why do you need owner’s title insurance?
Title insurance protects you against possible issues from the past that haven’t been disclosed, or couldn’t be found in our search. Owner’s title insurance is a smart choice because it covers your ownership rights against claims that haven’t been made yet.

Such “unforeseeable errors” could arise due to false documents, deception, identity theft or inconsistent paperwork. Lastly, owner’s title insurance is a low, one-time fee at the closing that protects the property as long as you or your heirs own it.

To summarize:

  • Fortune Title conducts a title search before your transaction closes to make sure there are no title (the right to ownership) issues with the property in question.
  • Owner’s title insurance is the smart option that will give you peace of mind by protecting your property ownership rights for as long as you or your heirs own your home.
  • An owner’s policy is a single, one-time fee at the closing. 
  • A title search can unveil any previous (or current) issues with the property while title insurance protects you against claims in the future.
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