Should i get enhanced title insurance

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Congressional staff work. We are excited to announce that two of our lawyers were selected to Georgia Super Lawyers. Legal Insights What is Title Insurance? While there are many differences between the two policies, below are a few of the key differences to consider when deciding which policy option is best for you: Standard Policy A standard policy insures against title defects that exist at the time a purchaser acquires the property.

Put another way, a standard title insurance policy insures against adverse circumstances affecting the title that occurred at or prior to closing, including: Forged deeds, mortgages, satisfactions or releases of mortgages, and other instruments; Impersonation of the true owners of the land by fraudulent persons; Fraud, duress, or coercion in securing essential signatures; Mistakes in recording legal documents; and Unpaid recorded liens.

It can also provide a cash settlement to a new owner who unwittingly purchases a property with a forged deed from a fraudulent seller who did not actually own the home.

It protects against issues that might have affected your decision to purchase the property had you known about them at the time. The lender will then file a claim with its title insurance company to recoup the mortgage payments it was expecting to get from you.

Under other circumstances where you stopped paying your mortgage, the lender could foreclose and recoup its losses from selling the home. Amy Fontinelle is a leading personal finance expert with nearly 15 years of experience.

Select Region. United States. United Kingdom. Amy Fontinelle, Mike Cetera. Contributor, Editor. Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but that doesn't affect our editors' opinions or evaluations. What Is Title Insurance? For example, if there are utility lines in your backyard, the utility company will have an easement that allows them to access your property if they need to work on the lines.

The easement could limit your ability to use your property however you want. Title Insurance Costs Title insurance is a one-time, up-front fee—not an ongoing expense. Is Title Insurance Required? Was this article helpful? Enhanced title insurance policies include all the coverages of basic title insurance and add protection against a few more risks for good measure:.

The added protection available from enhanced title insurance coverage is usually well worth the small added cost at the time of closing or final sale. To learn more about our title insurance services, visit us online or call us today at Title insurance can take care of this mess for a new owner with the right insurance coverage.

An extended title policy shields your equity from identity theft, post-policy forgery, and scams. You, the innocent homeowner, would be expected to pay off that debt, or undertake a very costly quiet title action.

And find out more about deed fraud and avoiding real estate scams. Expect certain deductibles, conditions and exceptions with any level of coverage. Have a survey done to avoid some of these exceptions. Not all land use problems can be remedied. A good example of this is the sea level rise and changes in tidal rivers that change land boundaries.

That said, flood insurance is available and required in some areas. Learn more about flood insurance here.