Buying everyday items typically involves a straightforward process: you pay for what you want and take it with you. However, acquiring real estate is a more complex affair. You pay the asking price, but the property remains in its location. What you do receive is a legal document, known as a title, that validates your ownership. This is where we, at Axess Law, come in—by strongly recommending title insurance to fortify the security of your title.
Before you take ownership, a property may have had several previous owners, potentially leading to a host of issues that could compromise your title, either now or in the future. As your trusted legal partners, it’s our duty to shield your property interests, which is why we emphasize the importance of title insurance.
But title insurance does more than just affirm your legal ownership; it offers a safety net against a wide range of other potential problems. These can include unsettled municipal violations, lingering work orders, unpaid taxes, encroachments onto the property, and even fraudulent activities or forgeries. If your ownership rights ever come under legal challenge, title insurance will cover the costs of defending those rights and reimburse you for any losses incurred.
Many people believe that the title insurance their lender holds is sufficient protection, but this isn’t the case. To fully secure your investment, a homeowner-specific policy is essential. One of the advantages of title insurance is that it’s available for a modest, one-time fee, without the need for ongoing payments or renewals. Whether you’re a new homeowner or have owned your property for an extended period, there’s a title insurance policy tailored to your situation.
This coverage lasts for the duration of your ownership, offering long-term peace of mind. To learn how you can safeguard your most significant asset with title insurance, consult with us at Axess Law.