Title Insurance For Condos (NAPSA)—If you plan to buy a condo, you may want to learn more about protecting your invest- ment. Condosare just like singlefamily homes and land in that they carry titles. Many people do not realize that there can be just as many problemswiththetitle to a condo as there can be with other properties. In fact, according to the American Land Title Association, the title industry must correct problems in a third of all transactions that are made. Before you purchase the condo, your lender will require a title search. Thetitle company will work to clear any title problems before you take possession. However, if a problem arises after closing, you will only be covered if you have purchased owner’stitle insurance. In the current housing market, where foreclosures and liens are not uncommon, it is wise to protect your most costly investment with owner’s title insurance. It can be obtained with a one-time fee that you pay atclosing. To learn more about the importance of owner’s title insurance, visit www.alta.org.
