ntsFor HomeBuyers Ensuring Sound Real Estate Purchases (NAPSA)—Today’s housing market, with sometimes sloppy foreclosure procedures and cornercutting sellers, makes owner’stitle a insurance more important than ever, and a growing number of home-buyers are warding off potential real estate problems with this proactive type of insurance. Owner’s title insurance can offer homeowners protection against many legal hazards (incorrect notary acknowledgements, previously undisclosed heirs to the property and even counterfeit land deeds) that can emerge, usually after the completion of a real estate purchase. Most lenders require homebuyers to purchase lender’s title insurance when they obtain a loan, but this only protects the lender’s investment when problems occur. Owner’s title insurance provides coverage to homebuyersfor as long as they or their heirs own the property. For a one- time fee, it gives the insured the best possible chance for avoiding title claim andloss. After your sales contract has been accepted, a title professional will search the public records to look for any problems with the home’s title. This search typically involves a review of land records and title problems that are fixed Owner’s title insurance can protect homebuyers from costly issuesrelating to title claims that can emerge after a real estate purchase. before you go to closing. Owner’s title insurance comes into play after settlement when previously undisclosed problemsarise. For more information on owner’s title insurance, talk to a local title company or go to www.homeclosing101.org. You can also visit www.alta.org for more details.
