There are few things in life more important than protecting your home. The following are examples of why you need a Policy of Title Insurance from Salt Lake Title & Escrow. Remember that the best title search and examination cannot protect your equity and home from matters not appearing in the public records. However, a Title Policy from Salt Lake Title & Escrow can protect you from:
- A defective title may take away not only the house, but the land on which it stands.
- A deed or a mortgage in the chain of title may be a forgery.
- A deed or a mortgage may have been signed and executed by a minor.
- A deed or a mortgage may have been executed under a Power of Attorney after the death of the principal and could therefore be void.
- A deed or a mortgage may have been executed by a mentally incopmetent person
- A deed or a mortgage may have been executed by a person other than the owner, but of the same name.
- 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.
- A will may have been revoked by the testator after its execution.
- A conveyance by heirs-at-law of a person supposed to have died without a valid will may be defeated by a subsequent discovery and probate of a will.
- An heir or other person presumed dead may appear and recover the property or an interest therein.
- A judgement or levy upon which the title is dependent may be void or voidable on account of some defect in the proceedings.
- Unless the title is insured, homeowners cannot be sure they will never suffer a loss through title disputes after buying or lending on real estate.
- Title insurance helps speed negotiations when owners are ready to sell.
- By insuring the title, owners can eliminate delays and technicalities when passing the title to someone else.
- If the title is ever defeated, title insurance reimburses owners for the amount of their loss up to the face amount of the policy.
- Each title insurance policy that the title insurance company writes is paid up, in full, by the first premium for as long the insured and/or heirs own the property.
- Claims constantly arise due marital status and the validity of divorces. Title insurance protects against these claims of supposedly non-existent or divorced "wives" or "husbands".
- Most attorneys, in giving an opinion on a title, protect their client as well as themselves, by obtaining title insurance.
- THE TITLE POLICY COVERS THE ATTORNEY FEES INVOLVED IN DEFENDING THE TITLE.
