A recent news story in the New York Times highlights some constitutional changes in our closest neighbor to the south.  If passed, Cuban property owners-if they have an owner’s policy of title insurance-could enjoy the same economic benefits and stability that we Americans take for granted every day.

What does title insurance do for you?

It’s an insurance policy issued for a one-time premium that exists to protect your property rights for as long as you, or your heirs, have an interest in the property.

What kind of property rights issues arise?

The property you are buying might be new to you, but 50 years ago there could have been a forgery on the deed. The deed could have been signed under duress, or given from a purported trustee that was unauthorized under the trust agreement. Perhaps there was a missing heir.

These are just a few of the many different types of what we call “hidden title defects” that could cause you to lose your property, or limit your ability to resell the property.

You don’t want your property’s baggage to impact your ability to live on or sell it in the future. Nor would you want to pay potentially high costs of defending your property rights in court.

That’s why purchasing an Owner’s Policy of Title Insurance is your best protection against potential defects that can remain hidden despite the search of the public records. Your lender will require a Loan Policy to protect their interest as well.

For a one-time premium, Southern Title, through one of our underwriters, will issue you a policy protecting you against covered losses due to undetected defects that existed prior to the issue date of your policy, up to the amount of the policy. Your title insurance policy also provides for legal defense costs unless the matter is excluded or excepted – another great reason to review your title commitment when you receive it, and ask your title agent about an exceptions or exclusions that you don’t understand.

Let Southern Title help you avoid potential title problems. Contact one of our offices today.

The information provided by Southern Title Holding Company, LLC on our website does not and cannot contain legal advice. The legal information provided is for general informational purposes only, and is not a substitute for legal advice.

Before taking any actions based upon such information, you are encouraged to consult the appropriate legal professionals or licensed attorneys. We do not provide any kind of legal advice. The use or reliance of any information contained on this is is solely at your own risk.