Title insurance has safeguarded the American dream of homeownership for over 125 years, ensuring the secure transfer of real property, the nation's largest asset. By meticulously working behind the scenes, title companies bolster lender and consumer confidence in real estate investments.
The primary goal of title insurance is to clarify the rights and interests of all parties in a real estate transaction, ensuring a smooth and secure transfer of property. This involves conducting thorough searches of public records to identify and rectify potential issues before completing a transaction.
Despite comprehensive title searches by skilled professionals, some hidden hazards may still arise, such as forgeries, undisclosed heirs, or record-keeping errors. Title insurance addresses these unforeseen risks, emphasizing risk prevention over risk assumption. Though labor-intensive and costly, this proactive approach offers the best protection against claims and losses, making title insurance a vital component of real estate transactions.
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