Title Insurance Des Moines IA

Title Insurance

In some cases a lawyer will actually give you a lower price for legal services associated with closing a real estate deal if you buy title insurance.

So, why would you bother? Here's the kind of problem that title insurance addresses:

• Marital status of owner incorrectly given
• Deeds, wills, and trusts that contain improper vesting and incorrect names
• Transfer of property by a mental incompetent or minor
• Property line disagreement (i.e. a neighbour builds a fence over your property line)
• Confusion due to similar or identical names
• Outstanding mortgages, judgments, and tax liens
• Easements
• Incorrect notary acknowledgments
• A forged deed that transfers no title to real estate
• Previously undisclosed heirs with claims against the property
• Instruments executed under expired or fabricated power of attorney
• Mistakes in the public records

Another war story: We purchased a brand new home from the builder. We decided to get title insurance even though we thought we'd never need. We actually got the title insurance because a lawyer guaranteed a lower closing cost with the purchase of title insurance. And sure enough - we had a problem with the public record. Now, our township cleared it up and we didn't have to pay anything, but this was a classic case where we could have had a problem. We are now very happy to have title insurance.

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