Fairfax, Virginia (newonlinepr ) March 2, 2023 – Mathis Title, VA Title Company, has recently published an in-depth breakdown of the many financial risks and potential consequences of not having title insurance when you’re buying the rights to a home or property. In simplest terms, the purchase of a title insurance policy ensures the protection it provides to you, the buyer, from unexpected claims or flaws related to the purchased property.
The article explores the purpose and advantages of two types of title insurance policies to consider – a lender’s policy and an owner’s policy. Each policy protects its respective participant in the sale and purchase of a title. In some cases, the lender’s policy is mandatory and must be listed in the settlement documents as it protects the financial interests of the lender from potentially “buying problems” or losing to title fraud. Although the purchase of a title is systematically a well documented process, errors can happen regarding the history or status of a title.
Mathis Title provides insight into the horrifying reality that mistakes in the purchase of a home or property title can leave you empty handed. In some instances, you may be living your day-to-day life in a home that you’ve purchased and have for several years when suddenly you receive a notification that you must vacate the premises because the “actual owner” of the property has claimed it. What can you do to protect yourself? A title insurance policy can protect your investment under these circumstances and more.
With the addition of this new article, the team at Mathis Title hopes that readers will come out with a greater understanding of the importance of a title loan and the surprising circumstances that some homeowners or purchasers may find themselves in. For more information, reach out to the title professionals at Mathis Title today at 703-214-4020 or visit their website at https://www.mathistitle.com/. Their offices are located at 11325 Random Hills Rd, Suite 160, in Fairfax, VA 22030.