Owner’s title insurance is a must for many reasons we’ve discussed in the past. Though each title insurance policy is different, owner’s title insurance in general protects clients as homeowners in the event someone has a claim against their home from before the time they purchased it.
Yet it’s important to note that owner’s title insurance isn’t a fix-all for many issues that can arise during and after purchasing a home. So when it comes to owner’s title insurance, what isn’t covered? Knowing can help property owners protect their investment and prevent confusion down the road.
For some homeowners, there is confusion about the separation of homeowner’s insurance and owner’s title insurance. Overall, it’s important to know that owner’s title insurance protects ownership of the property and shields property owners from unknown title defects like fraud, forgery, missing heirs, previous owner’s non-use of building permits and encroachments. No one insurance product covers all of a homeowner’s needs. Yet it’s clear that owner’s title insurance offers valuable protection to homebuyers and incomparable peace of mind that their property is indeed theirs, free and clear of title defects.