Posted on Friday, May 15th, 2020

Do I need title insurance for my newly built home?

title insuranceYes, even though your home may be new, the land is not. Purchasing a home will likely be your most important investment so it makes sense to purchase an owner’s title insurance policy, which is designed to protect yourself against financial loss due to a defect in the title to the property.

The following list contains a few examples of how title to property could be found defective and potentially unmarketable:

  • Improperly recorded legal documents not located in the proper chain of title
  • Undisclosed heirs who have an interest in the property that was conveyed
  • Court judgments acting as liens on the property
  • Documents executed under false, revoked or expired powers of attorney
  • Defective acknowledgements due to improper or expired notarization
  • Gaps in the chain of title
  • Forged deeds and other instruments, which did not properly convey title

 

If you have any questions regarding purchasing your home, Orlando FL real estate attorneys like Nishad Khan P.L. can help. Call Nishad Khan P.L. to learn more about how the home buying process works.