IS TITLE INSURANCE WORTH THE EXTRA COST?

CONSIDER THE FOLLOWING:


AN ABSTRACT OF TITLE…………………..

DOES NOT    cover a forgery in the chain of title

DOES NOT    cover a missing heir in the chain of title

DOES NOT    cover any attack on title, irrespective as to its merits or lack of merits

DOES NOT    cover an error in the public records

DOES NOT    provide coverage for as long as one owns the property

DOES NOT    provide for survey coverage

DOES NOT    provide affirmative coverage for covenants and restrictions

DOES NOT    assure valid execution of closing documents

DOES NOT    provide full coverage against Real Estate Taxes in the full chain of title

DOES NOT    provide for the cost of a defense of an attack on title irrespective as to the amount of coverage provided

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A TITLE POLICY………………

DOES       cover a forgery in the chain of title

DOES       cover a missing heir in the chain of title

DOES       cover any attack on title, irrespective as to its merits, or lack of merits

DOES       cover an error in the public record

DOES       provide coverage for as long as one owns the property (owners policy only)

DOES       provide for survey coverage in most instances (lender's policy only)

DOES       provide affirmative coverage for covenants and restrictions (lender's policy and under certain conditions, owners policy)

DOES       provide valid execution of closing documents

DOES       provide full coverage against Real Estate Taxes in full chain of title

DOES       provide for the cost of a defense of an attack on title irrespective of the amount of coverage provided

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