Home owners often ask about title insurance, what it covers, and if they should buy it. Lender's coverage is required with most loans, however, an owner's policy is traditionally optional. Buyers must review the facts and decide for themselves on whether it is worth it based on the fees and advantages. In this blog you will find title insurance information for MA properties.

Do Not Mix Up a Title Search for Insurance

Before settlement, a title search is typically completed by a title company. This determines that no other party has a lien on the home (based on available records) and that the title is clear to be transferred to another entity. The title search is not guaranteed and does not always catch issues with the title. Title insurance will shield you from title problems and the fees associated with protecting your rights to a home.

Title Insurance Extent of Coverage

Title insurance is a single charge at settlement that will remain active for the entire time that you remain owner of the home. You can get it after closing, but it is typically less costly when selected at closing. The fee is based on the principal of the loan.

Title Insurance Information For MA Properties and Items Covered

Title insurance general coverages include…

  • Misrepresentation related to the completion of paperwork.
  • Undue influence on a seller or executor (of a will).
  • Impersonation by individuals pretending to be owners of a property.
  • Erroneous marital status of a seller.
  • Mental Incapacity of parties involved.
  • Transfer by a under-aged person.
  • Non-delivery of critical paperwork.
  • Unresolved claims not shown in the records.
  • Inconsistent indexing at Registry of Deeds.
  • Typographical blunders in recording legal documentation.
  • Delivery of deeds after the death of a seller.
  • Deeds executed under incorrect powers of attorney.

Some policies also include…

  • undisclosed heirs.
  • Wills not properly probated.
  • Mistaken interpretation of trusts.
  • Birth of heirs subsequent to the date of a will.
  • Inadequate land surveys.
  • Incorrect legal descriptions.
  • Problems caused by identical names.

The information contained here is merely an introduction. Consult a local title company for accurate title insurance information for MA properties and costs, as they normally differ based on the company. The above should not be interpreted as legal information and is subject to change.