“I couldn’t be more pleased with Cathleen’s services. She made the painful process of selling a home painless. Her attentiveness to detail ended up saving me money at the closing. She went above and beyond of what my expectations were. I fully trust Cathleen to represent me with all my future investments.”
-Rani Salloum, Client
Title Insurance
Title insurance is protection against loss arising from problems connected to the title to your property. Before you purchased your home, it may have gone through several ownership changes and the land on which it stands went through many more. There may be a weak link at any point in that chain that could emerge to cause trouble. For example, someone along the way may have forged a signature in transferring title or there may be unpaid real estate taxes or other liens. Title insurance covers the insured party for any claims and legal fees that arise out of such problems.
Purchasing title insurance is obligatory if you apply for a mortgage because all mortgage lenders require such protection for an amount equal to the loan. It lasts until the loan is repaid. As with mortgage insurance, it protects the lender but you pay the premium, which is a single-payment made upfront. The required insurance protects the lender up to the amount of the mortgage, but it doesn’t protect your equity in the property. For that you need an owner’s title policy for the full value of the home. Borrowers must buy it as an add-on to the lender policy. It is advisable to do this because the additional cost above the cost of the lender policy is relatively small. Let an experienced attorney from the Law Offices of Cathleen Benedetto assist you with all your title needs to ensure your transaction proceeds smoothly.
If you have a question about a title insurance or would like to would like to speak with one of our attorneys about an issue you need help with, we encourage you to contact us today to schedule an appointment.