| The National Association of Realtors
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| | included in the contract.
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| projects that 6.4 million resale home
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| | Insuring a home's title begins with a
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| sales will take place this year. If you
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| | search of public land records. The title
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| are one of those homebuyers, you're
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| | agent, or attorney working on behalf of
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| keenly aware that this will likely be
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| | the title underwriter, examines
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| your largest single investment.
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| | documents, such as deeds, wills or
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| Many will purchase homeowner's insurance
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| | trusts, to determine whether the property
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| to guard against forces such as fire,
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| | is insurable.
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| theft or wind damage. But what about
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| | When title problems are found, they are
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| other, hidden hazards that may threaten
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| | corrected, whenever possible, to avoid
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| their financial investment?
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| | future claims. According to a recent
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| Unlike homeowner's insurance, which
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| | survey by the American Land Title
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| focuses on future events and charges an
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| | Association (ALTA), title problems
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| annual premium, title insurance charges a
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| | consistently arise in 36 percent, or more
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| one-time premium and safeguards against
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| | than one out of every three, real estate
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| loss from hazards already existing in the
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| | transactions.
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| title.
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| | After search and examination, title
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| The two basic kinds of title insurance
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| | problems may still be hidden or missed,
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| are lender, or mortgagee, protection and
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| | such as a signature forged on a deed, or
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| owner's coverage. Most lenders require
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| | an unknown heir might step forward to
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| the former as security for their
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| | claim ownership. In each of these cases,
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| investment. Owner's title insurance lasts
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| | a title insurance policy will offer
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| as long as you, the policyholder, or your
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| | financial protection (subject to the
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| heirs, have an interest in the insured
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| | policy's terms and conditions). The title
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| property.
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| | insurer defends the title and "perfects"
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| Stewart Title Guaranty Co., a leader in
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| | the title or pays valid claims.
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| real estate information, advises
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| | With title insurance, you have financial
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| potential homeowners to ask their real
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| | protection against covered title hazards
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| estate professional about owner's
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| | for your most important investment.
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| coverage and confirm that it will be
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