Title is an important issue in purchasing any real estate. It is important to understand that, although title insurance can be very helpful, it does not guaranty good title. It only insures you against a loss suffered as a result of title not being good. What you, as a buyer, really want, though, is good title.
Consider fire or insurance. If you have a fire, it is great to have insurance, but it would be a lot better not to have the fire in the first place. Similarly, if a title problem arises, you will probably be very glad if you have insurance, but you will surely wish you did not have the title problem in the first place.
For over twenty five years, the real estate lawyers at Rice & Stallknecht, P.C. have assisted property owners, banks, settlement companies and even a title insurance company on title matters. We have a great deal of experience in this area and can assist you in an effort to make sure that you don’t have title problems when you purchase real estate, or dealing with title issues if they do arise.
Note that we will generally also recommend that you obtain title insurance when buying real estate. We don’t sell title insurance, and receive no compensation if you do purchase title insurance; we recommend it because many title problems, such as forgeries in the chain of title, cannot be discovered before you purchase property, and because title insurance not only covers any actual losses resulting from title problems but also what can be tens of thousands of dollars needed to defend title.