Buying a new home is one of the most expensive but worthwhile investments you’ll make in your entire life. It can be stressful but one thing doesn’t need to be worrying you. Finding a title insurance agency in Blissfield, MI can protect you and your investment.
What Is a Title?
A title represents an individual’s legal right to own and possess land. Having the title to your home means that you are the sole owner of the property.
Why Do I Need Title Insurance?
If a title states that you are the owner of a property, then all should be fine, right? Wrong. A title insurance agency provides insurance to protect the title owner against fraud. When a homeowner receives the title to his or her home, it’s not necessarily a guarantee that the property is his or hers. What if the person you purchased the house from was actually a fraud and the real owner exists out there and can take your property legally at a moment’s notice? This is a scary reality and it’s happened before.
What Does the Title Insurance Company Do?
The title insurance agency has the sole job of protecting the owner against possible fraud. This is different from a lender’s policy. When purchasing a home, it is common for the lender of the mortgage to take out a title insurance policy. This protects their investment in you as the homeowner but it does nothing to protect you in case something happens.
Prior to closing on a home, a title insurance agency does all necessary investigating into the property. They research to ensure that they know who the current owner of the property is, any outstanding liens on the property, and any other encumbrances on the property. If something should come up, problems can be resolved before the sale becomes final.
If you are purchasing a new home, contact the Prestige Title Insurance Agency at website to protect your investment. You can connect with them on Facebook for more information!
