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Title Insurance is a form of indemnity insurance that protects lenders and homebuyers from financial loss sustained from defects in a title to a property.
Title Insurance is mandatory in Pennsylvania and strongly recommended in New Jersey, but beyond that, it’s a smart idea to protect your largest investment. We’ve compiled a list of 21 reasons you want to have Title Insurance for your home.
A fire destroys only the house and improvements. The ground is left. A defective title may take away not only the house but also the land on which it stands. Title Insurance protects you (as specified in the Policy) against such loss.
02
A deed or mortgage in the chain of title may be a forgery.
03
A deed or a mortgage may have been signed by a person under age.
04
05
A deed or a mortgage may have been made under a power of attorney after its termination and would, therefore, be void.
06
A deed or a mortgage may have been made by a person other than the owner, but with the same name as the owner.
07
The testator of a will might have had a child born after the execution of the will, a fact that would entitle the child to claim his or her share of the property.
08
A deed or a mortgage may have been procured by fraud or duress.
09
Title transferred by an heir may be subject to a federal estate tax lien.
10
An heir or other person presumed dead may appear and recover the property or an interest therein.
11
A judgment or levy upon which the title is dependent may be void or voidable on account of some defect in the proceeding.
12
13
14
15
Title Insurance reimburses you for the amount of your covered losses.
16
A deed or a mortgage may be voidable because it was signed while the grantor was in bankruptcy.
17
Each Title Insurance policy we write is paid up in full by the first premium for as long as you or your heirs own the property.
18
There may be a defect in the recording of a document upon which your title is dependent.
19
20
Many lawyers, in giving an opinion on a title, protect their clients as well as themselves by procuring in Title Insurance.
21
Over the last 24 years, claims have risen dramatically.
Do It With Pride
Step confidently into this next chapter of your life with Pride Abstract. We’re here to help you protect your biggest investment ever. We have the tools and expertise you need to close on your new home. Give us a call at the office nearest to you to get started.
745 Main St.
Stroudsburg, PA Suite 205 18360
9am – 5pm
237 S. Main St.
Coopersburg, PA 18036
9am – 5pm
35 E Elizabeth Ave # 27 Bethlehem, PA 18018
9am – 5pm
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