651-688-2900 doc@vikingtitle.com
Once you’ve found the perfect home for you and your family, it’s crucial that you ensure you protect your investment. You’ll no doubt invest in home and contents insurance, but it would also be wise to invest in title insurance. In this post, Viking Title, LLC in Mendota Heights would like to offer some information on what title insurance is and why it’s vital.

What is a title search?

The property you’ve decided on likely has a long history of owners. As it has changed hands many times, there are reams of legal documentation dealing with these various sales and transfers stretching back across the years. If there are errors in these documents, if a previous owner failed to pay their taxes, if there are heirs with still-existing claims to the property, and so on, then these can threaten your ownership of the property. A title search of public documents performed by an expert legal team such as Viking Title, LLC will usually unearth any of these before they can become problematic.

What about hidden problems?

Indeed, some issues cannot be detected in public records, but title insurance provides indemnity against claims such as these, protecting you from the costs associated with claims against you and the costs of legal proceedings. Your title insurer will pay to perfect your title, or pay the costs levied by valid claims against your title.

But I’m buying a new build!

If you’re purchasing a new build then you’re lucky enough to be the first owner of the property, but you won’t be the first owner of the land. Many of the same title issues discussed above also apply to ownership of land, so you will require protection too.
Title insurance, unlike most other forms of insurance, is a one-time investment at closing, so you don’t need to worry about ongoing premium payments. Buying a home is likely to be the biggest investment you make, so don’t put it at unnecessary risk!
Title insurance protects you from a lot of the financial risks associated with buying a new home, but don’t forget to be wary of real estate scams too. Having an experienced legal team by your side through the home-buying process will make your life far easier, so contact Viking Title, LLC at (651) 688-2900 the next time you need legal assistance or title insurance in Mendota Heights.