Unified Title & Escrow, Inc. proudly represents Old Republic Title. Title insurance protects policy owners against covered financial losses resulting from title defects and hidden risks such as false impersonation of true owner of the property; forged deeds, releases or wills; undisclosed or missing heirs; instruments executed under invalid or expired power of attorney-in-fact; mistakes in recording legal documents; misinterpretations of wills; deeds by persons of unsound mind; deeds by minors; deeds by persons supposedly single, but in fact married; liens for unpaid estate, inheritance, income or gift taxes; fraud. Unlike other types of insurance that protect against future events and carry monthly or annual premiums, title insurance is purchased for a one-time payment as a safeguard against loss arising from hazards and defects that may exist in the title. The financial assurance protection offered by Unified Title & Escrow, Inc. is a critical element in satisfying claims and challenges on the title. It’s a process that helps ensure all parties have a clear understanding of their interests before the transaction is finalized. Our title insurance and permanent transaction record, which establishes the terms and conditions of the transaction, work to protect everyone involved.
Title insurance is an essential component of the real estate industry, safeguarding property owners against potential risks and ensuring secure ownership. It provides protection against claims or challenges to a property’s title, assuring buyers that they are acquiring a valid and marketable property. This information aims to explore the purpose of title insurance, its historical background, and its significance in modern real estate transactions.
A. Defining Title Insurance
B. Potential Title Claims
A. Origins in ancient land ownership systems
B. Evolution throughout history
C. Adoption in the United States
A. Benefits for homeowners
B. Facilitating mortgage lending
C. Ensuring smooth property transfers
Title insurance is a vital component of the real estate industry, providing protection to property owners from various risks associated with property titles. Its historical evolution demonstrates its longevity, adaptability, and importance in ensuring secure land ownership. In modern times, title insurance offers benefits to homeowners, lenders, and the overall efficiency of property transfers. Therefore, it remains an indispensable safeguard for both buyers and sellers in real estate transactions.