Who is Insured and Why?

Title insurance is necessary due to the high risk of buying, selling, or financing real property. The policy is issued on the date the property is transferred from one party to the other for a one-time premium charge. It is valid from that point until the property again changes ownership.

While there should be no risk in transferring property, risk does exist. Many "hidden" hazards to property ownership may show up unexpectedly in connection with the property. They could mean a costly loss or require time-consuming hours to clear. Title insurance protects the buyer from damages and expenses to warranties and representations made at the conveyance of the property.

The following are a few examples of hidden problems:
  • Confusion from the similarity of names
  • Forged documents
  • Signatures of minors or mentally incompetent persons
  • Mistakes in recording actual legal documents
  • Undisclosed or missing heirs
  • Fraud
  • Invalid divorces
  • Misrepresentation of marital status
  • Unpaid taxes or mechanic's liens
  • Clerical errors in public records
  • Wills not probated
When WestStar issues a title insurance policy, the buyer and seller can rest assured that the property is protected subject only to its terms and exceptions.

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