Title Insurance

There are many moving parts when it comes to a real estate transaction. Without all the right pieces in place, you can run into a costly problem. Many of these problems involve title issues. But by purchasing title insurance from the title insurance lawyers at Mazzoni Karam Petorak & Valvano, you will be protected from any current or future problems.

What is Title Insurance?

Before any real estate transaction can take place, the current owners need to show that they own the property they are about to sell. The owners will need to provide a “marketable title,” a document that proves they have ownership of the property and have the ability to do whatever they want with it. However, this is not always the case. A defect in the title – such as a lien on the property or a forged document – can either delay or prevent the transaction from occurring. Problems with the title can cost money and time, many of which either party is prepared to handle.

There are two types of title insurance policies:

  • Lender’s Policy – If you are getting a mortgage, most companies will require the purchase of a loan policy. This policy not only will protect you as the lender, but it will also protect the bank or other lending institution for as long as it has interest on the property.
  • Owner’s Policy – This type of policy protects you as the owner of the property as well as your investment. It will decrease any ownership risks by providing a title search before issuing either policy.

With a policy in place, the insurance carrier will pay for the costs of the owner defending his/her ownership in court. The insurance can also cover any financial loss you may have if you are unable to resolve any of the title issues.

The Title Search Process

When you purchase title insurance, your title agent will conduct a public record search to identify any possible issues or “clouds” that could affect your transaction. The search takes time since it’s incredibly complex, but it will uncover many hidden problems that not even the current owners may be aware of. By having such thorough title insurance done, it gives you the peace of mind, knowing there will be no issues in the future.

Why Purchase Insurance From Our Title Insurance Lawyers?

Many companies offer title insurance policies. But remember, real estate transactions can be extremely complex, especially if this is the first time you’re purchasing the property. And a lay title agency cannot give you the legal advice you will need to proceed with the sale.

At Mazzoni Karam Petorak & Valvano, we have a licensed title agent ready to assist you with your title needs. As part of our settlement services, we provide title insurance through Keystone Abstract Services to help streamline the real estate process. With our real estate attorneys working by your side, your transaction will go smoothly with little to no issues. If you are considering a real estate transaction in Northeast Pennsylvania, get the protection you need from any issues with the title. Contact the title insurance attorneys at Mazzoni Karam Petorak & Valvano today for more information.

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