Are you aware of the many hidden risks that could affect the property you are about to purchase?
Owner’s title insurance will not only protect you against hidden risks that would not be disclosed by even the most meticulous search of public records by the bank attorney, but also pay for the legal fees required to defend your title as insured against these hidden risks. The premium is a one-time charge. Following are 21 claims which we have actually experienced:
- Forgery
- Fraud in connection with the execution of documents
- Undue influence (pressure) on grantor or executor of a will
- False impersonation by those purporting to be owners of the property
- Incorrect representation by those purporting to be owners of the property
- Incorrect representation of marital status of a grantor
- Will not properly probate
- Mistaken interpretation of Wills and Trusts
- Mental incompetence of grantors
- Conveyance c by a minor
- Birth heirs subsequent to the date of a Will
- Inadequate surveys
- Incorrect legal description
- Non-delivery of deeds
- Unsatisfied claim not shown on the record
- Deeds executed under false power of attorney
- Confusion due to similar or identical names
- Dower or courtesy rights (homestead) of ex-spouse or former owner
- Incorrect indexing of public records
- Clerical errors in recording legal documents
- Delivery of deeds after the death of a grantor
| Owner’s Policy: | Minimum Charge: |
| Less than $50,000 | $75.00 |
| Up to $50,000 | $3.00 per thousand |
| $50,000 to $100,000 | $2.50 per thousand |