What Does Title Insurance
Protect You From?
Before you arrive at the closing, the title insurance company has already searched the county clerk's office for matters affecting the title to the real estate you are purchasing. If any issues arise, the title professional takes care of these issues and remedies any problems that could prevent the seller from passing on clear title to you as the purchaser. Even the best title search, performed by the most highly skilled and trained professionals cannot guarantee error free titles. Therefore, the Owner's Title Insurance Policy protects you as the new owner against such things as:
* A forged signature on the deed, which would mean no transfer of ownership to you;
* Mistakes in the public records;
* Deeds by persons of unsound mind or executed by minors; or
* Fraud.
While we are already operating in a risky business environment, title insurance will afford you additional protection at a fraction of the cost of going at it alone should the need to defend a title claim arise.
Graig Zappia, Esq., is a partner with Tully Rinckey PLLC, Albany, N.Y.
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