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Title Services & Title Insurance

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A property title is a legal document that lays out the specifics regarding a property’s legal ownership, and this is often in the form of a deed. Given that this is a legal document that pretty much determines the ownership of a property, it’s something that you really need to pay attention to. At Steltzner Law Firm, we provide an array of title services and title insurance provisions to help you navigate these sometimes hazardous waters. If you’re purchasing a property, and something goes awry with the title in question, it could have substantial implications for you. It’s best to be prepared for the worst by taking out title insurance, and in doing so, protecting yourself from harm. You can find out more about why this matters so much by reading on below.


Title Searches

If you’re buying a property, one of the processes that you will definitely need to look into having carried out is a title search – and this will need to be completed prior to closing. The title search is performed by a real estate attorney to make sure that the title in question is completely clear, and that there are no unexpected mishaps or surprises that could derail the purchase of your property. Generally speaking, it’s not likely that you’ll have any issues with the title for your prospective property – most purchases go through without any problems – but that isn’t always the case.


Potential Risks

One of the more common issues that crops up with title concerns is when the property in question is owned by more than one party. For the transfer of the title to be completed and the transaction to be closed successfully, then any and all relevant owners must sign the documents. Other problems relate to the purchase of the property going through without knowing all of the relevant information – like unpaid property taxes. In those cases, the burden for paying the money falls on the buyer, and it can be a fortune. This kind of situation is where title insurance can be so helpful.


What is Title Insurance?

Ask any real estate lawyer whether title insurance is worthwhile, and they’ll assuredly confirm that it is. This is a form of indemnity insurance that gives property buyers protections against financial loss, largely due to defects relating to the title of the property that they’re purchasing. Typically, title insurance tends to offer protection for those who get swept up in situations related to back taxes, conflicting wills, and liens.


Cost Effective Service

Given that the majority of people do not end up needing title insurance, it’s not such a surprise that some people don’t bother with it – but this is often a mistake. Title insurance tends to cost between $500 and $3000, and that might sound like a lot – but the cost of failing to protect yourself when something goes wrong is much, much higher. By taking a cautious approach, you’re eliminating the chance of severe financial ruin.

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