When you’re buying a home or other property, you want to ensure everything goes smoothly, from bidding to the last signature in the closing process. At Liberty Title, our expertise in title insurance safeguards you against unforeseen title problems that may arise.
We help home and property buyers discover and remedy existing or past problems with the property title, allowing you to move forward with your home closing. This guide helps you understand what is covered by a title insurance policy.
Public Record Title Problems
When you purchase Title Insurance, we perform an in-depth search of public records to make certain there are no problems in the history of the property. The public record search determines if another party has claims to your title or rights to the property.
Recording errors on legal documents can cause problems in public records. Other common title problems arise including issues related to a heirs, divorce, legal description discrepancies, judgments or bankruptcies.
Forgery and Fraud Protection
Owner’s title insurance also protects a home buyer against fraud and forgery. Title insurance can protect you if a deed, release, or will has been forged. Another party may claim to have rights affecting a title because of a forgery, or perhaps the true owner of the property has been falsely impersonated. In these circumstances, title insurance can protect you financially while ensuring your rights of ownership.
Liens and Encumbrances
Liens and encumbrances can also cause serious problems for homeowners. Title insurance will protect homeowners in case of liens from contractors for unpaid work.
Sometimes, a homeowner may have a judgment or mechanics lien. The lien may have been paid but is still appears on public record due to an oversight or unrecorded satisfaction. Title insurance can identify these problems and help remedy them and protect a homeowner against expenses that occur due to these errors.
We can also protect homeowners from the following problems:
● An outside party has the right to limit the use of land
● Deeds by persons of unsound mind or by minors
● Error in marriage status
● Invalid or expired power of attorney
● Unmarketable title
● No right of access to and from the land
Minnesota Title Insurance Services
Title insurance coverage lasts for as long as your home ownership does, protecting you against problems from the past and into the future. Remember that every home or property has a history.
Our title agents work to make sure that history doesn’t create any financial or ownership headaches for you down the road. To get the peace of mind you deserve, with the protection of a title insurance policy, call Liberty Title at 763.494.0340, or contact us to find out more.