Title insurance protects your claim of ownership of your property. When you buy
Wagoner real estate, you count on the paperwork being properly reviewed. One of the important parts of a mortgage transaction is the Title Opinion. When you get a "title opinion" from an attorney, that "title opinion" is simply the opinion of the attorney you hired. It is important however, it does not provide any insurance against errors made by the attorney or insurance against a later claim of error in the title. This is where Title Insurance comes into play.
If you purchase title insurance and someone later questioned your ownership of the property, the title insurance company would be required to come defend your title.
A few things to note:- Title insurance only covers the period of time before your purchase of the property. It does not cover from the time you purchase and beyond.
- Sometimes "exceptions" can be listed in your title policy. These would be things that were known when the policy was written such as, your driveway or storage building being on the neighbor's property.
- Title problems are often called "clouds" which mean your ownership is not completely clear - someone could raise questions about it. Even if your ownership would not be lost, it can be expensive to remove the "cloud" on your title.
- Title issues can arise from forgeries, improper paperwork filing at the courthouse, incorrectly completed forms, deaths and bankruptcies, lawsuits between other parties, and many other unknown circumstances.
For more information about
title insurance in Wagoner, OK, contact Karen Burnette, at FirsTitle, 918-493-2241 or
www.firstitle.com.
Having
Wagoner, OK. Title Problems? Contact Chuck Richardson of Richardson, Richardson, Boudreaux at 918-663-5070 or
www.rrblawok.com.
For all your
Wagoner, OK. area real estate needs, contact Darryl Baskin, McGraw Realtors, 918-258-2600 or
www.darrylbaskin.com.
