Title Insurance

I don’t know how much you know about title insurance, but I’ve literally never heard about it before today. I’m still fuzzy on what it is, but from what I can tell title companies sell you a type of insurance that protects you in the event that a prior claim is made against a real estate property title you’ve bought. Basically, from what I understand, any real estate comes with what you could call baggage, meaning that heirs, the IRS, previous owners, ect. may have claim to the property without you knowing it, and you may buy property without ever finding out.

Of course you want what’s called a ‘clear title’, which basically means that you’re buying real estate that no one else has any claim to, but you can’t be one hundred percent sure that no claims to your property will ever come up. That’s where title insurance companies come in. You purchase title insurance from a company and, if a claim against your title is made they will be there to protect your claim to the property by defending it, in court if they have to. This is something everyone should know about, why isn’t there a seminar or something on this subject!?

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