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William Byrd 404-992-1513's Blog

By William Byrd (404) 992-1513 | Agent in Conyers, GA

Title Insurance Protects Homeownership




 

Homeownership is the largest investment in America, and homeowners must protect their most valuable real estate investment with  Owner’s Title Insurance.

 

Owner’s Title Insurance is also called Owner’s Policy.  Owner’s Title Insurance  is a one-time fee between $500 and $600 that becomes part of the real estate closing costs, and protects homeowners, or their heirs for as long as they have homeownership of their respective property.

 

It is the real estate closing attorney’s responsibility to investigate all possible claims against the perspective contracted property before purchase.

 

After the real estate closing attorney has cleared any existing title defects, mortgage lender’s title insurance policy can be issued.

 

If a potential undisclosed title problem should arise after the closing attorney’s initial title search, Owner’s Title Insurance protects homeowner’s real estate purchase against title defects, liens, and encumbrances upon the warranty deed.

 

Possible hidden title hazards included:

 

  • Errors and omissions in warranty deeds.
  • Mistakes in examining court records.
  • Construction liens on warranty deeds.
  • Undisclosed first or second mortgage liens on warranty deeds.
  • Unbeknownst heirs existing on warranty deeds.

 

The American Land Title Association (ALTA) was founded in 1907, and is a national non-profit trade association representing the interests of approximately 4,500 title insurance companies, title agents, title searchers, and real estate closing attorneys throughout the United States.

 

The primary function of the  American Land Title Association (ALTA)  is the members conduct title searches, examinations, real estate closings, and issues title insurance that protects real property owners and mortgage lenders against losses from title defects.

 

Furthermore, the American Land Title Association (ALTA) disclosed that title problems were discovered in 36 percent of all residential real estate transactions.

 

Since Owner’s Title Insurance is a priceless expense to save a valuable real estate investment, homeowners must never discount the importance of purchasing Owner’s Title Insurance. 

"IF YOU KNOW ANYONE INTERESTED IN BUYING OR SELLING THEIR HOMES, PLEASE TELL THEM TO CALL WILLIAM "SUPER" BYRD." MOBILE: 404-992-1513

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