Important Facts About Purchasing A Residence

What is Owner's Title Insurance?
The title to your home is your legal proof of ownership. Owner's Title Insurance from Southern Title of Ohio provides you with protection against the loss of your home if your ownership is challenged in the future by someone claiming the title is defective.

What if I don't have Owner's Title Insurance?
If a problem with your title occurs and you don't have Owner's Title Insurance, you could lose everything you've invested in your home or face expensive legal costs. What are some examples of title defects? A couple purchases an existing home, and later discovers the woman they thought was the owner's wife was an impostor. The man's real wife appears, laying claim to her share of the house. Several years after buying a new house, the owners discover their garage was improperly positioned on a utility easement, placing them in violation of zoning ordinances requiring major renovation. Forgery, fraud, improper recording of deeds or permits, unknown liens or heirs-these are all reasons to protect yourself with Owner's Title Insurance from Southern Title of Ohio.

How does Owner's Title Insurance protect me?
Owner's Title Insurance protects your investment in your home. If someone initiates a claim against your title, Owner's Title Insurance from Southern Title of Ohio provides you with a legal defense, including attorney's fees, as provided in your policy. If your title should fail, you will be reimbursed for the equity in your home up to the face amount of your policy. To obtain this coverage, you pay a one-time, modest premium at closing. There are no recurring premiums. Also, the coverage lasts forever, protects you and your heirs, and continues even after you sell the property.

Doesn't Lender's Title Insurance protect me?
No. If there is a complete failure of title, you have no protection and would lose both your property and your equity in the property. You could also incur legal fees and any tax penalties assessed against your property. Your lender would be the only one protected by Lender's Title Insurance. When you are purchasing a new or existing residence, you should specifically request the option to purchase Owner's Title Insurance from Southern Title of Ohio.

What if my attorney reviews the title?
Real estate titles have hazards that even the most competent attorney can overlook, including hidden defects such as improper indexing of records, forgery of documents, unknown or missing heirs, and more. Plus, your attorney or closing agent cannot be held liable should you suffer financial loss because your title is found defective - only the owner is liable. The most accurate title examination may not discover some hidden defects. That's why it's important to have your investment in your home protected by Owner's Title Insurance from Southern Title of Ohio.

Why should I use Southern Title of Ohio for a title examination?
Southern Title of Ohio has protected generations of homeowners and businesses. Our claims history trends below industry averages due to our careful business practices and close association with professionals in the real estate community. Title examinations involve a review of the property's ownership history. We determine if the deed was properly recorded when the property changed hands. We look for any outstanding liens or judgments against previous owners. We examine the survey, noting easements and restrictions on the property.

Why should I request Southern Title of Ohio's Owner's Title Insurance?
Owner's Title Insurance and the title examination work together to protect your investment in your home. Laws governing real estate transactions and insurance regulations vary widely between states. Experience in local affairs is extremely important. Southern Title of Ohio's network of agencies, branches, and affiliates provides the knowledge and experience necessary to effectively navigate the complex issues surrounding real estate titles.