Title insurance is available to property owners who want to protect themselves against title issues that may occur following the closing of a home purchase. Title insurance claims can be made by homeowners whose ownership rights are threatened by title issues that may arise from other parties. While these claims may not allow homeowners to recoup the losses suffered in a battle over title insurance, they seek to ensure that the original title agreement is honored.
When to File a Claim
Property ownership issues arise as a result of old titles, deeds and claims to property that is later sold to other individuals and built upon. When a title search is conducted to determine whose property belongs to whom, sometimes the ownership of a home or a piece of property--even if a person paid for that property--comes into question. This is due to issues such as record defects, liens or encumbrance titles that prevent full ownership from being assumed by an individual. Title insurance claims are a way to protect against property ownership complications.
How to File a Claim
Filing a claim under title insurance is similar to filing other types of insurance claims. Claims are filed to your title insurance company, not that of the individual claiming the title to your property. Included in a title insurance claim is a written document explaining what your claim is about, and forms provided by your insurance company. Any additional information, such as letters back and forth regarding the dispute, receipts for the title to your property, and demands for payment should be included with your title insurance claim.
The company that ensures your title to property will usually respond to you within a few days of receiving your claim. Any further information or instructions will be included in this response. By law, title insurance companies are usually required to respond to your claim in a timely fashion, and issue an acceptance or denial of your claim along with any appertaining information. Many times, however, losses incurred due to title disputes are not covered under title insurance. If you feel as though your title insurance claim did not adequately cover you in the event of a title issue, you can contact a lawyer who will advise you as to how to continue claim proceedings.
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