Protecting Your Home Investment--Let Your Title Insurance Do the Job
When someone buys a home, in addition to the land, bricks and wood, the buyer purchases the legal title to the property. If the title is defective, it could result in serious financial loss to the purchaser.
Title insurance protects the purchaser by ensuring that the title is free of judgments, liens, unpaid taxes, leases, fraudulent conveyances and other encumbrances. It protects against these and other untold hazards that may not surface until long after the purchase transaction has been completed, including a forged deed that transfers no title to the property, previously undisclosed heirs with claims against the property and legal documents executed under an invalid or expired power of attorney.
One important point for purchaser's to be aware of is that standard title insurance is issued in the amount of the purchase price of the home. Usually, it is the responsibility of the homeowner to purchase additional coverage as the property value increases over time. In today's housing market this is particularly relevant. Property values fluctuate with supply and demand and also as improvements are made to a home.
CGA real estate attorneys recommend a higher standard of title insurance to our clients; one that increases in value over time to provide greater coverage as the value of the property appreciates. This provides the homeowner with added peace of mind and relieves the burden of purchasing additional co-insurance. It is one way that CGA real estate attorneys protect their clients' interests and investment.
We want to make sure that the purchase of your home does not become a legal nightmare. For more information on the benefits of premier title insurance and other real estate concerns, please contact our law offices at (717) 848-4900.