EaglePointe 411

3315 Mayflower Way #3
Lehi, UT 84043

need insurance?
If you have any other type of insurance, you are already familiar with the protection it offers. Car insurance protects you from some possible future event from becoming a devastating financial crisis. Health insurance, likewise, can contain protections against a major medical event from having the same effect. Your home or property can potentially have hidden risks that you may not be aware of. Governmental bodies, contractors, lenders, judgment creditors, the Internal Revenue Service, or various other individuals or corporations may have an interest in the property you own. For example, a builder may have a lien against your home until his services for constructing the home have been satisfied. If you are buying a property, you need to know about any possible claims or interest from these other parties.
Title insurance companies provide title search services to establish that there are no other claims on the property you want to purchase. These are searches through public records to find the existence of recorded defects, liens or encumbrances upon the title such as unpaid taxes, unsatisfied mortgages, judgments and tax liens against the current or past owners, easements, restrictions and court actions. These are reported to you, the buyer, and can then be accepted, resolved or extinguished before you close on the property. If there are any claims or interests not reported to you, the title insurance policy covers that risk for you. If a claim were to surface, the insurer would cover any costs required to defend your right to your property. If any previously undiscovered claim threatens your right to your property, it will be disposed of or you will be reimbursed it's value according to the terms of the policy.
Lastly, the premium you pay at closing is all that you will have to pay for the duration of your ownership of the property.