Title Insurance in Massachusetts
Why Should I Opt for an Owner’s Title Insurance Policy?
At DiBella Law Offices, P.C., we handle a number of important matters of real estate, including title insurance. Title insurance is quite different than most other types of insurance in terms of the type of risk that it covers.
Most insurance, such as homeowners (property) insurance, protects the policy holder from risks in the future, such as fire or storm damage. Title insurance, however, provides coverage for past problems or errors in the chain of title to the property, such as missing or forged signatures, missing discharges, probate issues, and a host of other problems.
Understanding the Types of Title Insurance
There are actually two separate forms of title insurance in Massachusetts, one that protects the mortgage lender and the other that protects the new owner. In most transactions, the lender will require a policy of title insurance to protect their loan (the "Loan Policy"). Most title claims involve problems or disputes that existed at the time the property was purchased but were uncovered in the future.
A few possible hidden risks that you may be protected against include:
- Fraud in connection with the execution of documents
- Unsatisfied claims not shown on the record
- Incorrect indexing at registries of deeds
- Conveyance of a minor
- Clerical errors in recording documents
- Improperly discharged mortgages
- Undischarged mortgages
If you are interested in learning more about title insurance and its benefits, we would be happy to meet with you for a free initial consultation. We can provide you with sufficient information so that you can make an informed decision.
To speak with a knowledgeable member of our real estate law team and to set up an appointment in one of our three offices in Burlington, Boston, or Methuen, please contact our office today at (781) 262-3338.