When real property (a home, condo, land or any other type of building) is purchased or refinanced, Title Insurance is also purchased. Title Insurance protects the new owners of the property from certain prior "rights" and "claims" others may have to your property.
These potential claims will affect your ability to own your home free and clear. To insure you have clear rights of ownership, Keystone Title Services will perform specific services such as a search of all public records. A public records search will reveal any lawsuits or claims recorded against the property or if there any suits or judgments filed against the owner of the property.
Our research will help us create a title report for your property. From this report we will then insure the title against any defects or previously unrevealed claims for as long as you and your heirs own the property.
These defects may include:
- Undisclosed heirs
- Incorrect marital status
- Fraud Forgery
- Mental incompetence
- Vendor liens
- Easements
- Defective deeds or clerical errors
A title insurance policy guarantees that you own the property you purchased.