Dean Graziosi Teaches You How to Get Best Title Insurance Policy

Real estate is one of the most paying-back business, true. But, it is also one of the most vulnerable

businesses. What if property that you bought with so much vigor and zest, turns out to be a loss of

money? There are so many types of insurance policies that can cover the loss to your property.

However, have you heard of Title insurance policy?

Millionaire, successful entrepreneur and a famous TV personality Dean Graziosi suggests that never

purchase any property without first making its title insured. Title insurance helps you to use your

property as you like.

Dean Graziosi is a bestselling author and owns an online blog. From years, he is teaching novice how to

successfully launch their real estate business. He has over 20 years of experience in real estate. Dean

claims that he has learned so much in these few years (while teaching novice) that he had not learned in

almost two decades. He emphasizes use of modern ways in real estate business and title insurance is

one of them.

What is Title Insurance?

Title insurance is used to protect you from any loses or damages caused to the property before you

purchased it. Some of the general characteristics of title insurance policy are given below.

Most appealing factor of title insurance policy is that it covers past events.

If you have your property title insured, the company will pay for any damages caused to the

property before you bought it.

The title insurance policy does not cover damages caused to the property after you

purchased it.

Most of the title insurance deals include legal expenses that might be necessary to

investigate, litigate or settle an adverse claim.

Title Insurance Coverage:

There are various forms of title insurance coverage. However, there are three major types of coverage

options, most of the individuals choose one of these options.

1- Basic Owner's Title Policy:

It covers: Clear title to the property

incorrect signatures

forgery and fraud

mistakes and defects in records

encumbrance or judgment

Basic Lenders Title Policy Coverage:

unrecorded lines and mechanic's lines

access rights

unrecorded events

unrecorded documents

defects in the property

Extended Owner's Coverage:

building permit violations from previous owner

subdivision maps

covenant violations from previous owners

living trusts

structure damage from mineral extraction

variety of encroachments and forgeries after title insurance is issued

Lender's Policy:

It is also known as Loan policy or mortgage policy.

It protect lender from unknown defects before purchase of the property.

It prevents lender from certain interests that are hidden from lender at the time of

purchase.

This policy is not good for a real estate purchaser as it protects rights of the lender.

Owner's Policy:

1. This policy is meant for owners, purchasers. It is most suitable for real estate agents.

It covers any damages caused to the property when it is in your custody.

This policy gives you protection from loss.

It provides you legal assistance.

When Title Insurance is most useful:

Title insurance is useful in most of the cases; however, some of its benefits are given below.

It protects you from undisclosed heirs.

it protects you from forged deeds, mortgages, wills, releases and other documents

False impersonation of true landowner.

deeds by miners

expired power of attorney and other expired documents

false affidavits of heirs or death

probate matters

frauds

Deeds and wills by mentally ill people

conveyance by divorced spouses

rights of divorced parties

adverse possession

error in tax records

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