Title insurance protects your ownership of the home and covers unknown issues like fraud, forgery, encroachments (if your shed turns out to be on your neighbour’s property or vice versa), previous homeowner’s lack of building permits, and more.

Do if someone encroaches your property?

You can drag encroachers to court under Section 442 of Indian Penal Code (IPC) and the Law of Trots upon encroachment and trespassing. It acts as a criminal offence. You can approach a court for an injunction order for stopping encroachers from making any encroachment or trespassing upon your property.

What is not covered by home title insurance?

Unfortunately this type of fraud is not covered by title insurance. Our policy includes coverage for title fraud where the ownership or title of a property is fraudulently changed or documents are forged to illegally sell or refinance the property. Have you spoken to your home insurance company?

How does title insurance protect you from loss?

Title insurance potentially provides insurance coverage to protect you from financial loss related to a defect in the status of title to property. If it is later discovered you do not own what you thought you bought or if someone else claims some interest in your property, then title insurance may make you whole.

What do you need to know about property title insurance?

Most people buy property title insurance when they purchase a home, which is intended to protect homeowners from risks such as title frauds, unpaid liens, neighboring encroachments, all of which could challenge the ownership of your home. Title insurance also protects against losses related to the title or ownership of the property.

Can a title insurance claim be filed against a seller?

[1] Claims filed pursuant to Lender’s Policies of title insurance generally relate to the priority of the lender’s mortgage on the property. [2] If cost becomes an issue, consider asking the seller to pay for the Owner’s Policy when you are negotiating for the purchase of your property.