| In the real estate business, having a clean title is of | | | | probably do not have it covering your ownership of |
| utmost importance. A title is considered as a vital | | | | the house. In such case, you are most likely to lose the |
| element of deed of sales. It gives a buyer the legal | | | | case along with your investment. The best thing that |
| right for a house; without this document, there can | | | | you can do, most probably is to run after the seller. |
| never be considered a closed deal between a seller | | | | This situation is unlikely to happen on properties that |
| and a buyer. Although it is very elementary to | | | | are covered by title insurance. In circumstances when |
| understand; ironically, there are some who missed it. | | | | something is missed during title inspection, and |
| Learn how to have a truly clean title. | | | | somebody takes ownership of the house after your |
| Before closing a deal, a title examiner should conduct a | | | | purchase, when the court decides to give ownership to |
| title search. This process ensures that the seller is the | | | | the plaintiff, you will get repaid your mortgage loan and |
| legal owner of the property being sold; that there are | | | | other investments you have put in the house you |
| no claims unsettled against the property which is a | | | | bought. |
| potential problem the new owner of the house. It is a | | | | With its description, most mortgage lender requires title |
| careful evaluation of the legal documents that will tie up | | | | insurance before granting a loan. It gives them the |
| the agreement. | | | | security to get paid which prevents them from putting |
| There are some mortgages nowadays that will require | | | | you in debt for a long time and selling a foreclosure. It |
| title insurance. It is another legal document, although | | | | saves everyone's time plus the fact that it protects |
| optional for some, which aims to protect the mortgage | | | | investments. Marketing strategies are getting tricky and |
| lender and the new owner of the property from | | | | some people are taking advantage of someone's |
| possible disputes in the future. Although considered | | | | excitement to own a house. Nevertheless, the law is |
| experts in the real estate business, title examiners may | | | | there to protect investments. |
| miss some details when inspecting a title during | | | | Title insurance not only comes in need in court. As |
| negotiations. In this event, title insurance will serve as a | | | | previously mentioned, it can be helpful when applying |
| legal document that will save the new owner of the | | | | for a mortgage loan. It gives you an added credential |
| house his mortgage loan and other fees. | | | | to the loan applied for. Mortgage lenders are most |
| If for instance, a title has been declared as clean title | | | | likely to approve your loan assuming that you have the |
| but somebody shows up claiming co-ownership of the | | | | capability to pay and that you have a good credit |
| house, the possibility of losing the investment is likely to | | | | score, upon seeing a title insurance covering the house |
| happen. Being on this situation and you are not aware | | | | you plan to purchase. It gives them the security to get |
| of title insurance coverage then you will feel like you | | | | repaid. More than anyone else, it is there to protect |
| are in trouble. This case will be eventually taken to | | | | your rights. |
| court. Since you are not aware of title insurance, you | | | | |