Foreclosure News Update Home Buying/Selling, and Renting/Leasing Tips Home buying Lease-buy option Home buying and selling news Home for sale Home for rent Real estate investment Home property management Home insurance Home security Home moving Your Foreclosure Strategy Foreclosure homes for sale Why foreclosures? Foreclosure property types Your foreclosure goals Your foreclosure strategy Negotiate foreclosure Hold or flip foreclosure home? Fixer upper foreclosures Best foreclosure locations Home neighborhood Foreclosure mistakes Foreclosure procedures Foreclosure legal information Foreclosure law Foreclosure glossary Foreclosure Homes Financing Your borrowing strategy Foreclosure loans Creative financing techniques Home mortgage loan Foreclosure Inspection, Repair, Improvement, and Decoration Tips Home inspection Home appraisal Foreclosure repair Home improvement Home remodeling Home decoration Home design Home furniture Home garden Foreclosure Opportunities Newsletters Foreclosure Home Repair Strategy Negotiation Tips for Buying Home Four Common Mistakes in Getting Home Mortgage Loans Foreclosure Fixer-Upper Homes Foreclosure Process: Best Time to Get in Pre-foreclosure Opportunities: How to Locate Them Estimating Foreclosure Fixer-Upper Repair Costs Avoid Serious Common Mistakes in Buying Foreclosures | Title Search and Title InsuranceHome Title search What is home title search about?It is a legal search of ownership to make sure that Seller has clear ownership without any doubt (or cloud) There are no unpaid taxes, liens against owner Any other defect in the title
Title insuranceIt protects you from any defect in the title that was not found during the title search. Title insurance companies make their lawyers available to represent you in case your ownership is challenged. Types of title insuranceThere are two types of title insurance: Lender’s title insurance that is required by the lender and covers the loan amount. Insurance coverage is reduced every time you repay your loan Owner’s title insurance that covers the full amount of your policy.
Benefits of your title insuranceYour title insurance covers you against the following (this is not an exhaustive list): Forgery and fraud Missing heirs Mental incompetence of sellers Transfer by a minor Inaccuracies in legal descriptions Claims that have not been satisfied on records Name confusion Clerical errors Non-delivery or delivery of deed after the death of seller Errors and mistakes in wills
Make sure that your title insurance also covers mechanics’ liens. More information on title services and home ownership
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