Securing Your Sanctuary

More and more of late, there has been a heightened awareness and concern about title security. While some people may consider additional monitoring services, it’s important to first understand the powerful protection that a one-time purchase of title insurance already offers to property owners. It is also important to remember that a change of title occurs when you sign a quit claim deed in front of a notary who verifies your identity with your drivers license, your passport or both.

What Title Insurance Provides

Title insurance is a unique form of protection that safeguards against losses from defects and legal claims that could threaten your ownership of a property. These may include issues like forgeries, undisclosed heirs, or errors in public records—problems that existed before you acquired your property. Unlike other insurance forms, title insurance covers your entire ownership period without additional fees after the initial purchase.

How Title Insurance Works

When you buy title insurance, it protects you from past events and ensures that any legal defects have been identified and addressed before you take ownership. This means that once your policy is in place, you are protected against any future claims that arise from past situations covered by your policy.

Making Changes to Your Title

If you plan to make changes to your property’s title, such as adding or removing someone from the deed, it’s vital to review and possibly update your title insurance policy. This ensures that your coverage accurately reflects the current status and ownership structure of your property, maintaining your protection against historical title issues. This is the biggest area of mistakes made. Often times property owners choose to do this on their own and do not add the additional needed protection. When that happens, it creates a ‘cloud’ on title and when the property is sold title has to go back to the parties involved to verify the legitimacy of the title change which can result in extensive delays.

Deciding on Additional Services

While title insurance provides substantial protection, the decision to use additional title monitoring services can be based on individual needs and preferences. If the recent discussions about title fraud have made you consider extra safeguards, it’s worth exploring these services. However, understanding the comprehensive coverage that your title insurance policy offers is the first step in making an informed decision.

In A Nutshell . . . If you have questions about what title insurance covers, how to ensure your policy is up-to-date, or whether additional services are right for you, please do reach out. We’re here to provide you with the information you need to make confident decisions about protecting one of your most valuable assets—your home.