What Title Insurance Can Do For You
Ask Gina About Title Insurance
Part two of our “What the Heck is Title Insurance Anyway?” blog covers several other items that you do not need to worry about once you have obtained a policy for your new home. As a reminder, this is a one-time purchase that covers you FOREVER. Not many things in the world today last that long….
• Undiscovered Encumbrances- At the time of purchase, you may not know that a third party holds a claim to all or part of your property- due to a former mortgage or lien, or non-financial claims like restrictions or covenants limiting the use of your property.
• Unknown Easements- Unknown easements may prohibit you from using your property as you’d like, or could allow third parties to access all or portions of your property.
• Boundary/ Survey Disputes- Surveys that contradict what you have seen may exist and a neighbor or other party may be able to claim ownership to part of your property.
• Undiscovered Will- When a property owners dies with no apparent will or heir, the state may sell their assets, including their home. When you purchase such a home, you assume your rights as owner. However, the deceased owner’s will may come to light years later and jeopardize your rights to the property.
• False Impersonation of Previous Owner- If you purchase a home that was once sold by a false owner, you can risk losing your legal claim to the property.
Ask Gina & Company is ready to provide extraordinary service beyond the purchase or sale of your Loudoun home so call our Ashburn office at (703)574-3478 to ask your NOVA real estate questions and to have AGC’s experience and service on your side!
Information courtesy of Champion Title.