While finding a home is a hectic process, it is also a challenge to go through the closing process. That is why you need to make sure you are aligned with a reputable title insurance agency. Because a home is such a large investment, you need to make sure it is properly protected with the right insurance.
How You Are Protected
When it comes to title and closing services in Onsted, MI, the purchase of title insurance is a necessity. When you buy the insurance, you are protected against any defects in the chain of title. Some of the hidden risks that can lead to a real estate loss may include the following:
- A false impersonation by the owner selling the house
- The forging of a deed
- Undisclosed heirs
- Errors in the recording of legal paperwork
- Will misinterpretations
- Deeds signed by minors
- The issuance of a deed by a married person claiming to be single
- Liens for income tax non-payments or the non-payment of gift taxes
Any of the above risks can be averted when you take advantage of the title and closing services provided by a title insurance agency. Although closing on a home is an involved process, it is necessary to ensure that you become the rightful owner of a property.
Researching a Chain of Title
To support title and closing services, a title insurance company researches the chain of title to find out the following details:
- The owner of the real estate
- The title’s connection with the owner
- The outstanding liens that are attached to the real estate
- Other encumbrances on the property
Such research is necessary to avoid any major problems during the house purchase. After the policy is issued, you, as the insured, are protected from any risks that occurred before the policy’s date of implementation.
Place your title in the right hands. Contact Prestige Title Insurance Agency at 517-264-6040 today for further details and information. You can connect with them on Facebook for more information!
