Gibraltar Consumer Portal
I can help you!
Visit My Site
I can help you!
Visit my Page
Home Loan Options
Home Loan Options-Home-Loan-Options-2-2-Home Loan Options-2
Homebuying & Selling
Homebuying & Selling -Homebuying-Selling-3-2-Homebuying & Selling-3
Tips & Advice
Tips & Advice -Tips-Advice-7-2-Tips & Advice-1
9 Things Homebuyers Need To Know About Title Insurance
In your journey to buy a home, you’ll learn a great deal about a variety of topics, including property values, home financing, home inspections and insurance. Title Insurance is one type of insurance that is essential, so here are nine things you need to know:
Titles exist to prove legal ownership of property, such as a house, condo or vehicle.
The title of your new home needs to be transferred to you upon purchase.
Property ownership can only be transferred from seller to borrower with a clean and clear title, meaning no other person or entity can claim ownership.
A clear title means that it is free from judgments, liens and bankruptcies.
Nearly 1/3 of title searches turn up some irregularity. Even if it’s a small issue, it must be resolved.
Title insurance provides financial protection against things like fraud, forgery, spousal claims, undisclosed heirs and tax issues.
One type of title insurance is necessary to protect your interests. The other type is to protect the lender. Both are required.
You have the right to choose your title insurance provider.
Generally, the buyer pays for one policy while the seller assumes the cost for the other.
This quick list outlines the most common scenarios, but title insurance varies based on where you live and several other factors. Contact us today if you have any questions.
- Apr 01, 2019
You might also like
5 Tips To Fall In Love With Your Home All Over Again
Love is in the air, and we have five tips to help get that tingly feeling you had when you first saw your home and knew that it was the one for you.
- Feb 12, 2020
Big Game Contest
The Big Game Contest Official Rules and Regulations
- Jan 28, 2020
Get A Bigger VA Home Loan To Purchase A Texas Home in 2020
Gibraltar Mortgage Services has increased VA home loan limits for 2020 to help veterans and active duty servicemen and woman purchase a home.
- Jan 07, 2020