Title insurance guarantees that the ownership of the property you are buying is just as it’s stated in recorded documents. Whenever you buy real property, you expect to acquire use of the property as well as its title or legal ownership and you want to be absolutely certain that the owner had clear title to it in the first place and consequently was legally entitled to sell it to you. Title insurance protects the buyer — and lender — from actions that occurred in the past that could cloud or prevent you from acquiring clear title to the property. Such actions as: incompetency, clerical errors, incorrect marital status, undisclosed heirs, improper interpretation of a will, forgeries, the signature of a minor and other circumstances will be covered.
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