Did you know that title defects could be waiting to rob you of your time and money, or even threaten your home ownership rights? Every real estate owner in Frisco, TX, and around the country is at risk, but many aren’t even aware of the issue. While your lender probably conducted a thorough title search before your loan was approved, a title search won’t find every title defect. Some title defects, like incorrectly filed documents and liens against the property, can go unnoticed for years, but once they are discovered, the current owner is responsible for resolving them before they can sell. That could mean paying to resolve the defect or fighting it in court. If another party comes forward with a valid claim of ownership of your property, you could even be forced to give up your home!
Owner’s title insurance is designed to cover some or all of your expenses related to resolving title defects that were not discovered during the title search. That includes legal fees, administrative fees, and more. Working with an experienced title company also saves you time because many types of claims can be resolved without much involvement from you. Your title policy gives you the assurance that an expensive title defect won’t turn your dream of home ownership into a nightmare.
Get in touch with World Wide Land Transfer today to find out more about title insurance in Arlington, TX, and nearby communities like Frisco, TX.
World Wide Land Transfer is here to ensure your closing day goes smoothly! You can trust us to hold funds, sensitive documents, and keys in escrow until it’s time to transfer them. Your settlement agreement is just as important to us as it is to you, so we will ensure all aspects of that agreement are followed to the letter. A real estate closing is stressful enough without having to worry about whether you can trust your escrow company. We work with buyers, sellers, real estate agents, and more in Frisco, TX, so get in touch with us to find out more about all the ways we can make your real estate settlement a breeze.
Title insurance provides protection for a range of common title defects. A standard policy will generally cover:
If any of these defects are discovered during the time your property is covered, you may be able to be compensated for any legal expenses you incur relating to resolving it, up to the limits of your policy. Your title agent can also handle a lot of the leg work involved in resolving defects, so you can have the assurance that comes from knowing you have an ally on your side.
If you are buying your first home in Frisco, TX, we want you to know that you will need a separate owner’s title policy to cover you. Even if your lender requires you to purchase a title policy, be aware that it will only cover their interest in your loan. You need your own policy if you want to take advantage of the protection it offers.
We also suggest getting the title policy process started as soon as possible, ideally well before closing day. A title defect could be discovered at any time, so it’s best that you have the assurance of being covered from day one.
You can trust WWLT to take care of all your title coverage needs, and we also provide other services for buyers, sellers, real estate agents, and lenders. Call us right away if you are looking for a title insurance company in Dallas, TX, or anywhere else in the Lonestar State.
