How to Minimize Title Risk


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9/22/2011
Samah Ghabour
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Purchasing a home is a major investment....probably your biggest one. How can you protect this investment?

First, you must run a title search to ensure that there are no open liens on the property. The title search should tell you if there are any judgments in the chain of title and if there are any open liens, taxes due, or a water and sewer balance (if the water and sewer are municipal and not private).

Second, you must obtain a title policy. This is the insurance that will protect you in the event someone later says that he or she had a judgment or lien on the property and wasn't paid. The title insurance company will cover that claim and will pay to defend you if you are sued for it.

Third, make sure you obtain a survey and have it endorsed on your title policy. There is nothing like realizing that your home built on land that is not yours. Make sure that your property is within the bounds of your land.

Mega Title can run title searches, order surveys and issue title insurance policies to protect you!



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