Ten Peaks Sotheby's International Realty Blog: Colorado

Do I Need Title Insurance - Breckenridge Real Estate

Purchasing your home is an important decision. But how does one know that the property they purchased has a clear title? Because unknown problems can be hidden in the history of a property's title, homeowners pay for title insurance.

Title insurance is an insurance policy that guarantees the property title is free from the problems of hidden liens and claims. Public records for the property are searched to find problems in the title's ownership and history. The fee for title insurance is usually included in the itemization of closing costs from the lender and is a one-time fee. Possible hidden title problems can include:

·  Errors or omissions in deeds

·  Mistakes in examining records

·  Forgery

·  Undisclosed heirs

·  Liens for unpaid taxes

·  Liens by contractors

Title insurance pays for title companies to search for problems in a property's title by examining public records.

·  Public records that are routinely searched include:

·  Deeds

·  Mortgages

·  Wills

·  Divorce Decrees

·  Court Judgments

·  Tax Records

·  Liens

·  Claims

·  Maps

By searching the property's chain of title the new owner can be assured of clear ownership to their new property and that no outstanding debts or unknown ownership issues are associated with their new home.

In addition, besides securing a good search on a property's title, title insurance will insure the property owner as long as s/he owns the property. Therefore, if a problem arises at a later date, the title insurance policy will cover legal fees in defense of a claim against the property that is covered under the title policy.

Think you have to settle for whatever title insurance company your lender puts in your closing papers? Not true-you have the right to choose your title insurance company. Take a look at Shopping for Title Insurance to find tips and information on how to shop around and save when purchasing your next property's title insurance policy.

Click here to see local Breckenridge Real Estate Title Insurance Companies.

Breckenridge Colorado maintains the feel of a historic mining town while offering resort-like amenities and breathtaking Breckenridge real estate opportunities designed by nature to fit every lifestyle. More than 4,000 people call Breckenridge home even though thousands more visit the region to ski, snowboard and enjoy other winter activities. Other pastimes such as hiking, biking and golfing are popular with amateurs and experts alike during the gorgeous summer months.

 Breckenridge real estate offers a wide variety of choices when it comes to finding the right property. Luxury homes, mountain cabins, townhomes, condos and acreage are available for home buyers looking to settle in this wonderful mountain town. To buy or sell in the Breckenridge Real Estate area or any other area in Summit County, contact the experienced real estate professionals at Ten Peaks Sotheby's International Realty.

If you would like more information about buying or selling in Breckenridge or any other 
area in Summit County, contact the experienced local real estate professionals at Ten 
Peaks Sotheby's International Realty. For Free listing alert updates check out our website 
at www.TenPeaksSothebysRealty.com