When you purchase a home, you are really purchasing the title to the property, which is the right to occupy and use the space. That title may be contested based upon past rights and claims asserted by others. These types of claims can cause you to lose money or even worse… lose your home.
The risk of a claim is diminished by our title search and examination. A title search is a detailed examination of the historical records concerning a property. These records include deeds, court records, property and name indexes, and many other documents. The purpose of our search is to verify the seller’s right to transfer ownership and to discover any claims, defects and other rights or burdens on the property., which include (but not limited to) unpaid taxes, unsatisfied mortgages, judgments against the seller and restrictions limiting the use of the land. For instance, the previous owner could have incorrectly stated his or her marital status, resulting in a possible claim by a legal spouse.
A title insurance policy issued by a title insurer and signed by Bluecastle Title protects your right to ownership and is your policy of protection against loss if any of these problems (hidden or not) result in a claim against your ownership.
If a claim is made against your property, our owner’s title insurance will, in accordance with the terms of your policy, assure you of a legal defense, pay all court costs and related fees. But also, if the claim proves valid, you will be reimbursed for your actual loss up to the face amount of the policy.
Some examples of hidden hazards are forged deeds, mortgages, satisfactions or releases. A deed granted by a person who is insane or mentally incompetent, or by a minor. The deed from a corporation, unauthorized under corporate bylaws or given under falsified corporate resolution. The deed from a partnership, unauthorized under the partnership agreement, etc. The list goes on and on, and Bluecastle’s title policy will protect you if any of these problems end with a claim against you.
Call us at 954-866-0000 and ask to speak with Alex for more information.
Bluecastle Title & Escrow Lic # W578038
Agent in Charge: Martin A. Baglioni Lic # W022640