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What is Owner’s Title Insurance and Why Do You Need It_

https://www.mainsttitle.com/ On the other hand, the owner's title insurance protects the buyer. If any issues with the property's title result in a loss of value, the buyer is protected. However, the owner's title insurance does not protect the lender.

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What is Owner’s Title Insurance and Why Do You Need It_

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  1. What is Owner's Title Insurance and Why Do You Need It? When buying a home, the last thing you want to worry about is whether or not the title is clear. That's where the owner's title insurance comes in. This type of insurance protects you from any financial losses that may occur if there are any problems with the title. In this article, we will discuss what owner's title insurance is and why you need it! What is Owner's Title Insurance? Owner's title insurance is a type of insurance that protects the buyer from any financial losses that may occur if there are any problems with the title. This includes things like hidden liens or encumbrances on the property. If you were to purchase a property without the owner's title insurance and any problems with the title, you would be responsible for paying to resolve those issues. The Benefit of Owner's Title Insurance ●Peace of mind: The most significant benefit of owner's title insurance is its peace of mind. When you purchase a property, the last thing you want to worry about is whether or not the title is clear. With this type of insurance, you can rest assured knowing that you will be protected financially if there are any problems with the title. ●Compared to the risk involved, the cost is small: The price for an owner's title insurance policy is a relatively small percentage of the home's purchase, but the possible risk it covers is huge with the legal costs and the complete loss of the home. ●A brand new home without any stress: Legal battles can sometimes break out over the ownership of the land on which a subdivision or condominium structure is built. In the case of past unpaid labor from a contractor, the mechanic's liens may be linked to the property. ●If it is a very old home: With more past owners, the opportunities for problems are higher. The possibility of past easements or surveys that one is not aware of could put them in trouble with an owner's title insurance getting sorted out. ●The satisfaction that a thorough title search is done: Because title companies are financially invested, they will be more cautious and double-check that the title is without errors. Why Do You Need It? As we discussed, owner's title insurance protects you from any financial losses that may occur if there are problems with the title. This type of insurance is important because it gives you peace of mind and protects you from a potential financial burden. Therefore, we recommend that all

  2. homebuyers purchase an owner's title insurance policy to protect themselves from unforeseen problems. Get Title Insurance Without Any Trouble If you're ready to purchase an owner's title insurance policy, we can help! At Main Street Titles, we provide our clients with the best possible experience. We offer a variety of title insurance products and services to meet your needs. Contact us today to learn more or to get started on your policy!

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