Why Every Homeowner Needs a Title Insurance

Why Every Homeowner Needs a Title Insurance

Woman shaking hands with a business man after signing a property insurance documentNew Jersey boasts an impressive home ownership rating of 64 percent. With its natural beauty, good education system, an above-average employment rate, and generous median household income, it’s easy to see why.

There’s also the fact that buying a home in the Garden State, compared with other states like California, costs far less. However, to ensure that you get to enjoy the benefits of homeownership and remain secure and protected from potential problems, you need to work with a New Jersey title insurance company.

Making certain you have a clean and clear title

The biggest reason for investing in this type of insurance product is to protect your rights as a homeowner. You went through all the complex steps to buy a home and secure a mortgage, so it only makes sense you reap the benefits you expect. Title insurance gives you this guarantee.

The many things that can go wrong

When purchasing a home, you shouldn’t let your excitement take over your cautiousness. Nor should you let your huge upfront expenses get in the way of purchasing this insurance. While home ownership brings you a lot of good things, there are just as many things that can go wrong.

Without title insurance, you run the risk of facing numerous issues, such as receiving property tax charges that the previous owner owes. There’s also the possibility that the house you want to buy had two owners, and for some reason, only one signed the sale papers, and the other wants to stake a claim.

Preventing unwanted surprises

Although title insurers rarely receive claims and shell out money for them, this doesn’t automatically mean your money will go to waste. The fact that you have protection from these circumstances (and many others) will give you peace of mind and assure you that you are a legitimate homeowner.

*Always consult your attorney.

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