Why Do I Need Title Insurance?
Title insurance is one of the most misunderstood and underutilized resources available to consumers. Many people incorrectly believe that title insurance is just an added, unnecessary cost. Instead, title insurance requires a one-time premium for the coverage – coverage which extends for the duration of time that the purchaser owns the property. Title insurance can be purchased to cover both the property owner and the lender who provides the mortgage for the property.
Title insurance is not required, but it is beneficial for a number of reasons. First and foremost, it protects the owner and the property from any unknown past issues related to the property. While title searches should always be performed prior to purchase, these searches do not always find every possible issue. Title insurance means that you are able to rest assured knowing that no matter what past issue may emerge that jeopardizes your title to the property, you have a legal team that will defend you against those claims. With title insurance from Milligan Reynolds, you have access to a team of courtroom advocates specializing in real estate law. Title insurance provides an expert team to fight on your behalf regardless of whether you’ve owned the property 5 months or 50 years.
When purchasing property, commercial or residential, you need to take steps to protect your investment. Title insurance is an excellent way to do just that. It protects you and your property from claims – whether they are true claims or false. Title insurance is a one-time cost that provides access to a full-fledged legal defense, saving you significant amounts of money and stress should any sort of claim be made against your property, whether that claim is related to liens, unpaid taxes, shared access, or right-of-ways.
If you live in Tennessee or Georgia and are interested in title insurance, Milligan Reynolds can help. For more information about title insurance or to find out how much it may cost, call Milligan Reynolds today. Their team would be honored to work with you.