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Home / Real Estate Information / Home Buyer Tips / MA Title Insurance Important Facts

04.18.12 Home Buyer Tips, Mortgage Information

MA Title Insurance Important Facts

MA home buyers often ask about title insurance, what it is, and and if it is necessary. Lender’s title insurance is required by the lender, however, owner’s title insurance is an optional feature. MA buyers should assess the facts and decide for themselves whether they ought to buy it. The following are MA title insurance important facts.

Why Insurance Is Helpful Even After a Title Search

Before closing, a title search is routinely performed by the title company. This confirms that no other entity has a claim to the MA home and that the title is able to be transferred to a new buyer. The title search is not full proof and may not detect defects in the title. Title insurance will protect you against previously unknown title issues and the costs associated with defending your rights to title on the MA property.

Title Insurance Coverage

Title insurance is a one-time charge at closing that will cover you for the lifetime that you retain ownership of the MA property. You can buy it after closing, but it is normally less costly when bought at closing. The cost is based on the price of the property.

MA Title Insurance Important Facts and Coverage

Title insurance general coverage includes…

  • Fraud in connection with the execution of past title transfers.
  • Pressure on a seller or executor (of a will).
  • Impersonation by those pretending to be owners of a MA property.
  • Erroneous marital status of a seller.
  • Mental Incapacity of parties involved.
  • Conveyance of a under-aged party.
  • Non-delivery of essential paperwork.
  • Unresolved claims not shown in the records.
  • Incorrect indexing at Registry of Deeds.
  • Clerical mistakes in recording legal documents.
  • Delivery of deeds proceeding the death of a seller.
  • Transfers executed under incorrect powers of attorney.

Some policies also cover…

  • undisclosed heirs.
  • Wills not properly probated.
  • Mistaken interpretation of wills.
  • Birth of heirs subsequent to the date of a will.
  • Inadequate MA land surveys.
  • Inaccurate legal descriptions.
  • Blunders due to identical names.

The above information is just generic information. Consult a local title company for accurate MA title insurance important facts and pricing, as they commonly vary based on the title insurance provider.

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Chris Graves's avatar

Chris Graves

I grew up in Massachusetts, spent the majority of my young adult life in Boston, and own a home in Windham NH. I have owned properties in MA and NH. I specialize in mortgage lending in Massachusetts and New Hampshire and my company does have the ability to lend in other states. I graduated from the University of Massachusetts in Amherst Massachusetts in 2002. I have a Bachelor’s in Science. In addition to managing a team of loan officers my personal loan production is always in the top of the entire of company. I have personally been in the mortgage business for over 13 years. I pride myself with taking my clients from application to close in the smoothest and quickest way possible, while keeping them well informed during the entire process. I originate my own loans from start to finish and work hand in hand with my loan processors & underwriters to make sure I am updated to the minute with all of my files. I stay up to date with lending guidelines and speak with underwriters on a daily basis to ensure I am aware of all of the lending guidelines in place.

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  • Local Information (61)
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  • News (22)
  • Real Estate Information (176)
    • Featured Properties (2)
    • Home Buyer Tips (134)
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Disclosure

Company NMLS 1788.
Licensed by the New Hampshire Banking Department #13092-MB.
Licensed in Massachusetts.
Licensed in Maine.
Licensed in Florida.
Lender and Broker License #MC-1788 (Not Licensed in Alaska or New York)
http://www.nmlsconsumeraccess.org
Click Here for Our Privacy Policy

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