Title Insurance Policy
Never Buy Without It!
Title Insurance RI, MA
Why you need it for RI and MA…
- All major lending institutions for the loan require a “Loan Policy”. Buyers will be offered an “Owner’s Policy” at the time of the closing for a small additional fee. The Loan Policy is only valid for the life of the loan whereas the Owner’s Policy lasts forever for the buyer, even when the property is sold. Both the Loan and Owner title policies protect the lender and buyer from any title defects.
- Some types of title defects the policy protects are:
- Fraud—false claims of ownership, forged deeds, wills, signatures, conveyances, instruments, false representations, false records of all sorts, illegal acts of trustees, guardians, administrators, and attorneys.
- Human Error—errors in copying, indexing, recording; errors by administrators, executors, trustees, guardians, and attorneys; and destructions of records.
- Improper Deeds and Wills—deeds by persons of unsound mind, minors; deeds delivered after death or without the grantor’s consent; invalid, suppressed, erroneous wills, missing heirs, unsettled estates.
- Liens and Other Rights—liens for unpaid estate, inheritance, income, property and gift taxes; homestead rights, community property rights; irregular court proceedings, court opinion reversals, lack of court jurisdiction; and defective foreclosures.