Some of them can be resolved by purchasing affirmative insurance from the title company. Liens and judgments . Title insurers are regulated by the state, as are virtually all types of insurance policies. They have the ability, after reporting a problem, of resolving it by offering affirmative insurance. What title insurance will help you avoid The title company will offer insurance that for so long as the premises are used as they are at the time of the transaction, nobody else will have a right to the property.
Title insurance has considerable value even in areas that have been settled for a long time.
On Long Island, N.Y., in the 1960s, for example, the area had been settled for more than 300 years yet a substantial claim was made that various Native American tribes had rights to land in Suffolk County, at the eastern tip of the island. The title insurance companies were less lucky, since they had been insuring the land for many years and had concluded that the ownership issue was an unlikely challenge. The cost of title insurance is regulated and not very expensive. Remember that title insurance only gives you coverage up to a certain point in time for all events that took place during a previous point in time. A lien that is recorded afterward isn't insured.