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Benefit of buying a property with clear title

Title is the ownership of the land or the property in question. When a land or the property is sold or purchased there is a transfer of title in exchange of money. This title transfer makes the person who is paying the money the sole owner of the title. Many a time the title is bought by many in unison in such a case all the people who have paid for the property become the title holders.

While buying a land or a property it is important that the buyer makes sure that the title of the property he or she is interested in has a clear title history. This is important because if a property has many claimants to the title and few of them remain unresolved there is a possibility that you may have to get into a legal battle with the previous title holders.

The title must be insured if the buyer wants to have a hassle free life after buying the property. This ensures that you buy a property that has a god title history because the insurer searches all the public records in order to not get into a deal that is sure to cause a loss to the insurer.

If at all there is a litigation due to hidden hazards like a co-owner that was not declared or a heir to the property or a mistake in the public records as such then the insurance will cover the buyer for all the expenses of court and attorney.

 

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