Why Choose an Owner's Title Policy when Purchasing your Home?
When it comes to protecting one of your most valuable assets - your property - an owner's title policy offers essential safeguards and peace of mind. Dimension National Title understands the importance of ensuring clear and marketable title, and our owner's title policy provides comprehensive coverage against potential hidden risks, defects, or claims that may arise after the purchase.
By securing an owner's title policy, you gain protection against a range of title issues that could jeopardize your investment. Despite thorough due diligence, unforeseen problems can surface, such as unknown liens, fraud, errors in public records, or missing heirs. With a Owner's Title Policy, the issuing insurance agency covers the costs associated with resolving these issues and provide compensation if your ownership rights are challenged.
Our team of experienced attorneys and title professionals specializes in title insurance and the complexities of real estate transactions. We conduct in-depth research, analysis, and underwriting to identify and resolve any title issues before issuing the policy. This level of expertise ensures that you receive a thorough and reliable owner's title policy, giving you the confidence and assurance you need.
For Example, a recent news article tells of a homebuyer who purchased a home on a land contract and made monthly payments of $1500 to the seller until they were able to secure a loan from a national lender. At the time, the lender required the buyer to purchase a Loan Policy to cover the Lender's interest in the Property. Because it is not required by law to purchase an Owner's Policy, the homebuyer chose not to obtain the Owner's title policy to save on closing costs , but this resulted with only the lender's interest being protected by the Lenders Loan Policy.
Several years later, the owners of the home were notified that their house was being foreclosed on and the sale date was fast approaching. How could this have happened? As it turns out, there was a prior loan on the home that was never paid off by the previous owner. Because the current lender had required a Loan Policy, their interest in the property was covered. Had the current owners invested in an Owner's Policy, they too would have been covered.
Unfortunately, without title insurance, they lost their home. Additionally, the resulting foreclosure may adversely affect their credit standing for years to come.
Obtaining an owner's title policy is a cost-effective solution compared to the potential financial losses and legal expenses that may arise from undiscovered title issues. The one-time premium you pay provides long-term protection and exceptional value for your investment.
Investing in an owner's title policy f is a proactive step towards safeguarding your property investment. With our comprehensive coverage, expert guidance, and exceptional service, you can have confidence in the security and protection of your ownership rights. Trust Dimension National Title to provide the title insurance solutions you need to protect your property and secure your future.
