Why Title Insurance?
Real Estate traditionally serves as the family’s most valuable asset. The owner and their heirs have rights to the property. However, a property’s title might be riddled with hidden, fraudulent, or unknown hazards, such as liens from governmental bodies, unknown heirs, lenders, contractors, the IRS, and many other potential lienholders. Real Estate can be sold without the buyer or third party lienholders knowing about it. Regardless of their knowledge, these entities still have rights or claims attached to the property regardless of the fact that it has a new owner.
Unlike most insurance, which protects you from unknown future events, title insurance protects you from unpleasant surprises from the past. The risks are far less obvious than in typical insurance but can be devastating to your interest in the property.