Title Insurance

Title insurance protects your claim of ownership of your property. When you buy real estate, you count on the paperwork being properly reviewed. You should get a "title opinion" from an attorney but that does not provide you any insurance that the attorney did not make an error or that someone later does not come back and claim an error was made (regardless who is right or wrong.) It is simply the opinion of the attorney you hired.

If you purchase title insurance and someone later questioned your ownership of the property, the title insurance company would be required to come defend your title.

A few things to note:

• Title insurance only covers the period of time before your purchase of the property. It does not cover from the time you purchase and beyond.
• Sometimes "exceptions" can be listed in your title policy. These would be things that were known when the policy was written such as, your driveway or storage building being on the neighbor's property.
• Title problems are often called "clouds" which mean your ownership is not completely clear - that someone could raise questions about it. Even if your ownership would not be lost, it can be expensive to remove the "cloud" on your title.

Title issues can arise from forgeries, improper paperwork filing at the courthouse, incorrectly completed forms, deaths and bankruptcies, lawsuits between other parties, and many other unknown circumstances.

For more information about title insurance in Broken Arrow, OK, contact Ann Rollins, at Closings of Tulsa, 918-493-2241 or www.closingsoftulsa.com.

If you live in the Broken Arrow, OK area and have legal problems as a result of your title or lack of title insurance, contact Chuck Richardson of Richardson, Richardson, Boudreaux at 918-663-5070 or www.richardsonlawfirmpc.com.

For all your real estate needs in the Broken Arrow, OK area, contact Darryl Baskin, McGraw Realtors, 918-258-2600 or www.darrylbaskin.com.