Purchasing a home is one of the biggest investments you'll make and requires a tremendous amount of paperwork. Title services help ensure that the property is transferred with all liens, encumbrances, and other obligations cleared without any hassles. It's important to understand why you may need title service assistance to protect yourself from potential disputes and other issues that could come up after closing.

Unresolved Claims

When you purchase property, title services help to ensure that the title is clear of any unresolved claims or liens. Title service companies use public records to identify any potential ownership claims or unpaid taxes associated with the property. This helps protect you against losing your investment should any claims or liens arise after the sale is complete.

Third-Party Interests

If you don't use title service assistance, you could be at risk of losing your investment due to third-party interests in the property. This includes rights of access attached to public roads, utilities, and other infrastructure that may cross the property. Title services provide an extra layer of protection by ensuring that all third-party interests are settled prior to closing.

Inaccurate Information

Title service companies will also check for any inaccuracies in title documents. They will compare information in the documents to public records, checking to make sure that all the details are accurate. This would include boundary lines and legal descriptions. This helps protect you from making a bad investment due to inaccurate information in the title.

Forged Documents

Title companies also help identify any forged documents or signatures. By verifying title documents, title companies can help protect you from potential problems caused by forged paperwork. Additionally, if any forgery is discovered after closing, the title company can take legal action on your behalf.

Market Growth

The Title Insurance industry in the U.S. has been growing rapidly over the past few years. According to IBISWorld, it grew at an average of 6.6% a year between 2017 and 2022. This growth is due to the increasing number of real estate transactions and underscores the importance of title service assistance when handling large financial investments.

Buying a home can be complicated and stressful, but title services can help make it easier. Title companies provide an extra layer of protection by ensuring that all claims and encumbrances clear prior to closing. Contact E & E Settlement Services today for more assistance.