Title Insurance & Why You Need It
There are few things in life more important than protecting your home but when it comes to recording deed transfers, mortgages and plotting land parcels, a lot can go wrong.
Title insurance provides coverage against title defects in existence at the time of closing, but which are not known to you at that time. It covers you against losses resulting from various forms of title fraud as well as providing an indemnity against loss or damage for many covered title risks relating to real property, including coverage in the event someone else claims an ownership interest in the insured property or in the event that the priority and enforceability of a lender’s mortgage on title is challenged.
More importantly title insurance provides you with peace of mind. Title insurance will pay for defending against any lawsuit attacking your title as insured, and will either clear up title problems or pay the insured’s losses. For a one-time premium, an owner’s title insurance policy remains in effect as long as you, or your heirs, retain an interest in the property.
Title Insurance Services in Greater New Jersey
At Edemnity we are dedicated to making sure you have the coverage and protection you need. Over the past several years we have closed transactions for the largest banks, builders and realtors in New Jersey and with this wealth of experience, we are ready to help you, the individual consumer, save time and money.
Remember, even the best title examination cannot protect your equity and home from matters not appearing in public records. However here is a LIST of what Edemnity can protect you from.
- Documents executed under false, revoked or expired powers of attorney
- Improperly recorded legal documents
- Forged deeds, mortgages, wills, releases of mortgages and other instruments
- Deeds and wills by persons lacking legal capacity
- State inheritance and gift tax liens
- Errors in tax records
- Demolition and substandard building liens
- Administration of estates and probate of wills of missing persons who are presumed deceased
- Issues of rightful possession of the land
- False impersonation of the true owner of the property
- Forged deed, releases or wills, Instruments executed under invalid or expired power of attorney
- Undisclosed or missing heirs; 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