The Importance of Title Insurance

Attorney Kathleen Kilkenny represents the interests of buyers, sellers, and lenders in the Cape Cod, Massachusetts area from her practice’s office in Chatham. Kathleen Kilkenny is also affiliated with national title insurance companies. She is a member of the American Land Title Association, which advocates for consumers by helping to provide trouble-free real estate transactions.

Upon the signing of the sales contract and before closing, titles to the property are searched at the Registry of Deeds and probate courts for any obstacles to transferring the title of the home. Around one-third of these searches reveal problems, such as a failure of the previous owner to pay local or state taxes, errors in the deed, undisclosed heirs, or forgery.

Generally valued at the home’s purchase price, an owner’s title insurance policy protects buyers against these and other unforeseen issues that may arise. Payment for the policy involves a one-time fee for coverage that lasts as long as the owners or his or her heirs have an interest in the property. The policy provides for possible legal fees if the title is challenged. It is offered automatically in some states and optionally in others. In the latter case, owners should take the initiative in buying the policy.

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