Page 18 - ABN Seller's Guide

0 0 Seller s Guide Step Continued

H OU HOULD HA E TITLE I URA CE

Title insurance is the most cost effecti e a to protect the sale and transfer of our home.

A defecti e title could be the cause of losing propert . Title insurance protects against such loss.

A deed or mortgage ma ha e been e ecuted b a po er of attorne after its termination, and ould
therefore be oid.

A person other than the o ner, but ith the same name as the o ner, ma ha e made a deed or

mortgage on the propert .

A testator of the ill ma ha e had a child born after the e ecution of the ill. That ould entitle the child
to claim his or her share of the propert .

Title transferred b an heir ma be subject to federal estate ta lien.

If claims arise, title insurance co ers attorne 's fees and court costs.

Title insurance e idence clears title hen an indi idual is read to sell or bu propert .

In estors can eliminate dela s and technicalities hen passing title to another.

Bu ers are reimbursed for the amount of losses co ered b the title insurance.

A deed or mortgage ma be oidable if it as signed hile the grantor as in bankruptc .

Title insurance remains ith the indi idual or heirs of the propert as long as the retain o nership.

Onl title insurance protects against claims made b non-e istent or di orced spouses.

There ma be a defect in the recording of a document on hich our title is dependent.

With identit theft on the rise, claims ha e risen dramaticall o er the last decade.