5 Top Reasons You Should Have Title Insurance When Buying a Home in Maine

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Purchasing a home is an exciting milestone, but it also comes with a lot of responsibility. One important step in the home-buying process that often gets overlooked is securing title insurance. Title insurance protects your property rights and ensures that you’re safeguarded from unexpected legal issues related to the property you’re purchasing. In Maine, where the real estate market is diverse and the title history of properties can sometimes be unclear, title insurance is an essential form of protection. Here are the top 5 reasons why title insurance is a must when buying a home in Maine.

1. Protection Against Title Defects

One of the most significant reasons to invest in title insurance is to protect yourself from title defects. These defects can include errors in public records, previously undiscovered claims of ownership, or disputes over the rightful owner of the property. Even if everything seems clear at the time of purchase, hidden issues may surface later, potentially threatening your legal right to the property. Title insurance ensures that you are covered if any defects or challenges arise in the future.

2. Safeguards Against Fraud and Forgery

In Maine, as in other states, fraudulent activities such as forged signatures or illegal transfers of property ownership can happen. A previous owner may have unknowingly signed over their rights, or someone may have fraudulently sold the property without authorization. Title insurance protects you from such risks, ensuring that no one can falsely claim ownership of your home after the sale is complete.

3. Coverage for Unpaid Liens or Debts

In some cases, a property may have unpaid taxes, mortgages, or liens attached to it, even if the seller isn’t aware of them. Title insurance helps protect you from inheriting these liabilities. If a lien surfaces after you purchase the property, your title insurance policy will help cover the costs associated with resolving the debt, saving you from financial headaches.

4. Protects Against Boundary Disputes

Property boundaries are not always straightforward, and in Maine, where rural and coastal properties are common, disputes over land boundaries are more frequent than you might expect. Title insurance can help protect your rights in case a neighboring property owner disputes the boundaries of your land. It ensures that you don’t lose ownership of property that you believed was part of your home.

5. It’s a One-Time Cost for Long-Term Protection

Unlike other types of insurance that require yearly premiums, title insurance typically involves a one-time premium paid at closing. This one-time payment covers you for the lifetime of your ownership, meaning you’re protected from unforeseen title issues as long as you own the property. The long-term protection it provides makes it a wise investment for any homebuyer.

Why Choose Brittany Albert at Treworgy & Baldacci?

When purchasing a home, navigating title insurance can feel complicated, but having an expert to guide you through the process makes all the difference. Brittany Albert at Treworgy & Baldacci is the trusted professional to help you understand and secure the right title insurance for your Maine home purchase. Brittany brings in-depth knowledge of Maine’s real estate market and title laws, ensuring that you are fully informed and protected from any potential title issues. Clients choose Brittany for her attentive service, clear communication, and commitment to ensuring a smooth and stress-free closing process. If you’re buying a home in Maine, Brittany Albert is the expert who can ensure you have the right title insurance protection in place.  Get in touch with Brittany today to have all of your title & real estate closing service questions answered!

 

brittany

 

Email:  brittany@treworgy-baldacci.com

Phone:  207-553-2190

Website:  https://www.treworgy-baldacci.com/