Title Insurance Of Real Estate

Title insurance is widely spread in the countries of Europe and USA, however, in our country its development is at the very beginning. Frankly speaking, people just don’t know about its existence therefore, it is very important subject which should be considered rather scrupulously.

So, title insurance is the insurance which allows protection of real estate deal. The insured event on such policy is an emergence of a situation “on loss of the property right to real estate”. This can result from identification of the facts of availability of other owners having the original right to ownership. As a result of such identification the deal will be invalid.

We have a case when money has been already received by the seller for sold real estate, and we cannot always figure on his decency in such situation. Naturally, before the conclusion contract you and your real estate agent will try to check by all possible methods the owner’s right to sale. But often the owner personally has no information oh, for example, about testacy which allows the third parties to come into inheritance, identification of mistakes in surnames or other data specified in the documents, incorrect privatization in case of last deals, etc. Such documents can become the reason of right loss to purchased real estate as the deal purchase – sales will be recognized as the invalid.

Life shows that such cases are very often and such insurance often is the unique hope which can smooth over a situation.

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