Owners Policy
The Owner's Policy is issued in the amount of the real estate purchase price. Only an Owner’s Policy protects the buyer should a covered title problem arise. Here are some possible hidden tile problems:
- A defect in the recording of a document upon which your title is dependent.
- Marital status and/or validity of divorces.
- A deed or mortgage in the chain of title may be a forgery.
- A deed or a mortgage may have been signed by a person under age.
- An heir or other person presumed dead may appear and claim the property or an interest therein.
- Any many more...
The Owner’s Policy protects you against losses from ownership problems that arose before you bought the property, but that were not known at the time you bought the property.
