TITLE INSURANCE

Title insurance provides protection against financial loss which could result from defects or legal claims against your property.

If you are obtaining a mortgage, your lender will require title insurance for the amount of the mortgage. We will also provide you with an owner’s title insurance policy unless you elect not to have one. Title insurance is paid for with a one-time premium paid as a part of your closing costs and will protect you against any possible title defects which may come to light during or after your period of ownership. You will receive the simultaneous issue discount when we issue the owner and lender policy at the same time.

Check out this video that explains the benefits of title insurance.

WHY TITLE INSURANCE?

Title insurance provides two major benefits to policyholders, provided that coverage is triggered. First, it will pay to defend the insured’s title against claims of third parties. Second, it will pay for loss or damage caused by a defect in title and suffered by the insured to the extent of the policy limits.

While most defects are discovered by a title search, there are a number of “hidden defects” which neither the seller nor the attorney examining the title would discover, but which could affect your title. Examples of these are lost, forged or incomplete deeds; deeds executed by incompetent persons; incorrectly indexed deeds in the land records; claims of Indian tribes; some permit issues (on Expanded Protection policies). Title insurance covers such potential problems.

With the increasing complexity of real estate transactions and the number of claims that are being prosecuted for allegedly defective titles, we now recommend to all of our clients that they have an owner’s title insurance policy to be adequately protected.

Title Insurance Premium Quote: http://vermontattorneystitle.com/rate-calculator/

WHY TITLE INSURANCE?

Title insurance offers invaluable protection for homeowners, activating two critical safeguards when coverage is invoked. First, it covers the cost of defending your title in the face of third-party claims. Second, it compensates for any financial loss or damage arising from title defects, up to the policy's limit.

Despite the thoroughness of a title search, it may not uncover certain "hidden defects" that could jeopardize your ownership. These include issues like misplaced, falsified, or incomplete deeds; transactions made by individuals lacking legal capacity; deeds improperly recorded; claims from Indigenous tribes; and specific permit problems (covered under Expanded Protection policies). Title insurance is designed to shield against such unforeseen complications.

Given the growing intricacies of property transactions and the rising frequency of legal actions over title disputes, our firm strongly advises every client to secure an owner’s title insurance policy. This step ensures comprehensive protection for one of your most significant investments.

Title Insurance Premium Quote: http://vermontattorneystitle.com/rate-calculator/