Looking into building your next home? You should consider getting title insurance to protect yourself and your new home. It can easily be overlooked because title insurance is usually to protect your home from any liens from previous owners and you’re probably thinking there couldn’t possibly be any liens on a plot of land that hasn’t been touched before you. However, you just never know if there was a previous owner that might have had liens that could put you and your home in jeopardy. In most cases, there’s usually an owner prior to the beginning of construction of residential homes. So, title insurance.
Title insurance reveals existing liens on a plot of land including contractor’s and mechanics liens. It protects property buyers and mortgage lenders against defects or problems with a title when there is a transfer or property ownership. It is your best protection through potential hidden defects even through a thorough public records search.
Mostly every piece of land will have some sort of an easement for utility companies to come and service the rest of the community. With title insurance claims, you can be covered over the devastation of your yard being dug up for a sewer line or your proudly grown garden with a tree being torn apart and cut down for a new pole. Utility companies have the right to install whatever is necessary without the owner’s permission as well. Add less stress by getting title insurance to help burden the loss that might happen if your land is being shared unknowingly with someone else.
Not only is it just on land that is shared, but title insurance can cover liens. For example, mechanics liens cover the bill from providers and builders if they were unpaid. If the contractor does not pay them or go out of business, contractors can place a lien on your property before you even get to enjoy it. Your contractors might be totally legit and very professional, however a lot can be undiscovered and unspoken of until you have a very bad day and everything hits you like a truck costing you a chunk of money out of your own pocket to take care of. Hence why there even is title insurance–it happens and title companies are around to help you, like us! Stay on the safe route and cover your home and your family the best way you can.
Here at Attorneys Title, we handle the title search, policies, and insurance. We’ll be sure to take good care of you and your home. Call us today for more information or to get started on owning your new property.