Any purchaser will need evidence that his investment in your property is free of title defects. The title insurance policy that you provide the purchaser is a guarantee that you are selling a clear title to your real estate, unencumbered by any legal attachments that might limit or jeopardize ownership. It will reassure your purchaser that he or she is protected from any risks or losses and could help you close your deal.
Top 25 Reasons You Need Title Insurance
- Any documents that have been written under false identity or any expired powers of attorney that were used without authorization.
- Undisclosed heirs who try to claim rights to the home.
- Improperly recorded documents.
- Rights for not appearing or any non-disclosed information from the survey.
- Failure to include any required parties in a court procedure.
- Any business taxes that have liens on the home or liens because the property is listed as a corporate real estate asset.
- Mistakes or purposeful omissions in the documentation.
- Forged legal documents, including mortgages, wills, deeds, release of mortgages, etc.
- Deeds that were signed by minors.
- Any type of conveyance by an heir or survivor of a joint-owned estate.
- Inadequate legal descriptions in the title documents.
- Undisclosed divorce spouses and conveyances.
- The claims of duress regarding any deeds, wills or other instruments used to establish a title.
- A will or deed that was signed by a person who lacked the mental capacity to do so.
- Gift tax or inheritance tax liens by the state.
- Tax record errors.
- Substandard building lines or demolition lines that were inaccurate.
- Missing persons or those who were presumed dead at the time of the administration of an estate.
- Any issues of rightful possession for the property.
- The legal capacity of a trustee or the foreign representative of the house.
- Improper modification of wills, title or mortgage documents.
- Misinterpreted rights of two divorced individuals.
- Marital status issues.
- Special tax assessments that have been made against the property.
- Criminal acts that resulted in forfeiting a home.
Best wishes,If you have any questions or if I can be of any help with your real estate purchase or sale, please do not hesitate to call me.
Brian LaDue
“Lakeside Property Shop”
(586) 873-2242 Mobile
brian@lakesidepropertyshop.com
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