See my Blog

• Kentucky Bar Association
• Louisville Board of Realtors
• Home Builders Association of Louisville

• Appraisals Up with Housing Market Volatility
• New Rules in Play for Appraisals
• Facing complex market, fewer going the FSBO route
• FSBO vs. Agent: Are You a FSBO Candidate?
• Loan Modifications Coming Due
• Tips for Louisville Sellers Going FSBO
• Options for Preventing Foreclosure
• Review of Purchase, Contingency Agreements

Why Purchase Title Insurance?

For most individuals, a home represents their single greatest financial investment. As such, there are few things more important to protect.

A professionally conducted title exam or search is an important start. But even the most rigorous research cannot uncover all of the important details related to a particular property. These efforts can only serve to reduce the inherent risks involved in the transfer of real estate, but cannot eliminate them entirely.

This is why owning a title insurance policy is of vital importance. It is by far the most economically sound investment you'll ever make.

Many of the situations that can hamper your ability to obtain clear title do not appear in the public records. Many of these issues we've highlighted below. They occur more frequently than most people realize. The time and legal resources necessary to untangle them, in an attempt to gain clear title, can be imposing.

For example, an owner's title insurance policy can protect you from:

• Gaps in the chain of title
• Inadequate legal descriptions
• A document executed under powers of attorney which are no longer valid
• Someone who claims to be the true owner, but is not
• State inheritance and gift tax liens
• Heirs with a prior claim that were undisclosed to you
• Legal documents that have not been properly recorded
• Prescriptive rights not disclosed by survey or appearing of record
• Improper or expired notarization
• Corporate franchise taxes as liens on corporate real estate assets
• An improper abstracting that leads to important mistakes or omissions
• Forged instruments such as a deed, mortgages, wills, releases of mortgages
• Deeds by minors
• Conveyances by undisclosed divorced spouses; or conveyances by an heir, devisee or survivor of a joint estate who attempts to attain title by ill gotten means
• Improper delivery of conveyance instruments
• Deeds and wills that are not legally binding due to duress, or by persons lacking legal capacity, as examples
• Errors in tax records
• Issues involving missing heirs
• Mechanics' liens, such as for home repairs that were performed, but never paid for
• Issues of involving rightful possession of the land
• Issues concerning the rightful conveyances by corporate entities
• Deed and mortgages by foreigners who may lack legal capacity to hold title
• Legal capacity of foreign personal representatives and trustees
• Issues involving improper marital status
• Improper modification of documents
• Rights of divorced parties and deeds by persons falsely representing their marital status
• Conveyances in violation of public policy
• Misinterpretation of wills and ancillary instruments
• Claims by creditors of decedent against property improperly conveyed by heirs and devisees
• Issues surrounding unlawful takings by eminent domain or condemnation
• Special tax assessments
• Real estate homestead exceptions
• Forfeitures of real property due to criminal convictions
• Issues involving adoption of children
• Issues involving conveyances or proceedings affecting rights of military personnel under the Soldiers' and Sailors' Civil Relief Act
• Issues concerning interest noted in financial statements files under Uniform Commercial Code
• Deeds involving fictitious parties
• Adverse possession
• Community property issues
• Utility easements
• False affidavits of death
• Probate matters and disputes
• Federal estate and gift tax liens

The easiest solution to all these problems is, of course, to prevent them from occurring in the first place. Let us help you by securing title insurance to your property.