THE VALUE OF TITLE INSURANCE Every home purchase comes with piles of paperwork and a seemingly endless list of fees. Title insurance is one of the many standard costs the buyer has to cover, but the concept is relatively foreign to people outside the real estate industry. So, what do you get for your money? against future claims that could arise. Misfiled paperwork or misspelled names can hide defects in title, and long-lost heirs occasionally come out of the woodwork years later to claim ownership interests in the property, which may or may not be valid.
WHY THE FEE IS WORTH YOUR MONEY
take out loans or sell the home to another unsuspecting victim and walk away with the money, leaving the financial fallout for the unsuspecting victims to deal with. Title fraud insurance can be obtained but is not offered at the closing on a purchase. At a minimum, as an owner, you should periodically search public records at the Register of Deeds Office for documents that would reveal if someone has, or is attempting to, steal your property. Beaufort County offers a Property Alert Service that, once you have registered, gives you alerts when documents are recorded with matching names. Few homes ever have title claims made against them. Most people also never experience a devastating car accident or house fire, but we still insure against these possibilities because the benefit of doing so outweighs the cost. A one-time payment for title insurance will protect you for a lifetime of homeownership, and you forgo it at your own peril.
When a hidden title defect arises, in the best-case scenario, it causes a lot of stress and may take time, and without title insurance, legal fees to resolve the matter. Without title insurance, an owner could lose the house they purchased and every investment they’ve put into it. With title insurance, you can pay off any newly discovered liens that predate the closing, provide cash settlements to people making claims to the property, and cover any associated legal costs. Title insurance does not, however, cover title fraud, a new form of cybercrime. Because of digitization, criminals create and file fake documents, transferring titles out of the owners’ names. The thieves fraudulently use the owner’s identity, then
A house’s title refers to legal ownership of the property. Before providing financing for a home, the mortgage company ensures the seller has a legal right to sell the house, and the buyer has the legal right to purchase it. They hire a title company to perform a title search, checking for any “clouds” or problems with a title, like a lien or a mortgage on the house, an unbroken chain of title, or other defects in the chain of title such as taking title through forgery or fraud that predates the closing on the property, or title is conveyed to the buyer through fraud or forgery.
Despite this initial search, homeowners should purchase title insurance to protect
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EVERYTHING- SEASONED DINNER ROLLS
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“When men [and women] yield up the privilege of thinking, the last shadow of liberty quits the horizon.” –Thomas Paine
• Cooking spray • 20 frozen dinner rolls • 2 tbsp unsalted butter • 1 tbsp honey • 2 tbsp everything bagel seasoning Directions Ingredients
1. Coat a 13x9-inch baking pan with cooking spray and arrange frozen rolls in the pan to thaw according to package instructions. 2. Preheat oven to 350 F. Then, melt butter and honey together in the microwave or on the stove. Once the rolls thaw, brush butter mixture over the rolls and sprinkle seasoning on top. Bake for 15–20 minutes, or until golden, and serve these tasty rolls straight out of the oven!
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