Protect Real Estate Buyers From Defects

Nationwide Land Title Can Protect Real Estate Buyers From Defects

Which are the most common defects that can overshadow a contract of purchase and sale of a property? Which are the most common cases of fraud? The nationwide legal real estate frame is an issue in which a real estate buyer must have a minimum of knowledge to acquire the best policy. Similarly, how far an insurance company can help depends of asking about issues that you never would known they existed. An insurance company will always try to resolve any problems efficiently and as quickly as possible, because if the policy contract is correct, is the company that will be more interested to resolve any incident (more than you, even).

If you are interested in purchasing property in South Florida, have you looked into a title insurance company? This specialized type of insurance is an important prerequisite to any real estate purchase as your policy will protect you in the case of title defects. For more information on what constitutes a defect and how insurance can protect you all for becoming succesful real estate buyers, read on.

If Legal Ownership Comes Into Question

“Clouded title” can occur for a variety of reasons. Perhaps the document has errors, or was simply incorrectly filed. Perhaps a spouse who is an owner didn’t sign the document, or another key signature is missing. In some cases, an error to the public record for a piece of land can cause problems to real estate buyers.

When a search is conducted, monetary and non-monetary encumbrances will come to light. Monetary encumbrances include liens or mortgages while an easement is a non-monetary encumbrance. (An easement is an official agreement between two parties that the non-owner has special rights to the land, or a portion of it).

Real estate buyers must now that, sometimes, there is an exceptional circumstance for questioning legal ownership of a piece of land. Cases of fraud sometimes occur with relatives who have no legal claim acting as the owner. In other instances, signatures on official documents are forged, and the forgery is only discovered when a search is conducted.

How Your Insurer Can Help

When investing in title insurance, you are investing in the peace of mind, knowing you are protected from any issues with ownership before you agree to purchase. Estimates indicate that up to a third of real estate transactions are affected by these types of issues, but very few become problematic for real estate buyers.

Rely on your insurer to provide a detailed history of the land before finalizing the purchase. Your insurer is required to oversee a thorough search to avoid any loss or damage, and must compensate if there is any harm or damage to the insured. When an issue arises, your company must resolve the issue, even it means representing you in court to defend your right to ownership.

Protecting Your Property Purchase

An insurer must address any concerns that arise at the time of a search. If there is a defect, the company will try to resolve it as quickly as possible. In some cases, resolution will come by court order, or a more lengthy court case. The company will cover the costs associated with such a court case and defend real estate buyers.

When real estate buyers look into South Florida title insurance providers, they may start by asking for referrals from friends and family. They also have to be sure to ask company representatives about the full range of services they offer. Some conveniently include notary services. Nationwide Land Title is a full service insurance company that specialize in making property purchases as straightforward as possible for their customers, including notary services.