4 more reasons you should be thankful for title insurance
By Birthright Title
What a year 2024 has been for us all in Middle Tennessee real estate. It’s been full of ups and downs, but we’re thankful for everything that’s happened so far – and the continuing trust area real estate professionals put in Birthright Title. We’re grateful to be your title and closing team!
What exactly is title (and, more specifically, title insurance)? It’s a good question that is always worth revisiting. So, while we wrote about this topic this time last year, we thought it would be a great opportunity to talk about the cornucopia of benefits of title insurance.
If you didn’t know, there are two types of title insurance – lender’s and owner’s – and we always recommend having both. Here’s why you should be thankful for title insurance and the included title search that comes with it.
A title search helps uncover the unknown. Let’s start with the title search. This is a thorough examination of property records to ensure that the person selling the property has the right to sell it and that no encumbrances or issues are attached to the property. Sounds simple, right? It’s not, but a comprehensive title search builds a chain of title, tracing the property’s ownership back over the years. It uncovers any issues or discrepancies that could jeopardize your claim to the property. We call the title search a crucial step in any property transaction because it minimizes potential problems before anything else can be done.
If an issue appears, we’ll work to solve it. As we just said, a title insurance policy includes a title search. But what happens if we uncover issues? That’s a good question and one we love to answer because we promise to do what we can to solve any problems so your closing with Birthright Title can continue as smoothly as possible. After all, a lot of work goes into ensuring your property can be covered before a sale can be finalized, but our team is here to guide you to your home sweet home. That’s why picking a professional, caring title company is important.
Title insurance protects you now and in the future. Title insurance is your safeguard against any future claims about the property. Think of it as a protective shield that guards you against issues not found during the title search. Even the most extensive and diligent title search can miss things such as forged documents, undisclosed heirs or errors in public records, but you can rest assured that you’re still secure.
Having an owner’s title policy means you’re protected against any unforeseen claims, liens or legal fees that might arise after purchasing your new home. It provides peace of mind that your investment and property rights are secure.
It’s a lifetime investment that you only pay for once. As we’ve said, you only pay once for a title insurance policy. Unlike other types of policies, there are no yearly premiums. However, its protection lasts as long as you own your home. Talk about a great deal!
When you’re ready to close, Birthright Title is thankful to be your top choice for your title and escrow services. Most of our work is done behind the scenes of your real estate transaction – and that’s perfectly fine – but we’re always ready to talk about title with anyone who wants a conversation. Reach out to us anytime!
