Why Do You Need Title Insurance?

Title insurance at the Lake of the Ozarks has some very distinct differences from other types of insurance. Whereas other types of insurance protects against future events (such as hailstorms, floods, or fires), title insurance protects policy holders from loss against hazards and defects already in existence but currently unknown (such as undisclosed heirs or invalid powers of attorney). Other types of insurance also require monthly premiums for the duration of the policy, whereas title insurance only requires a one-time, upfront premium.


Title Search & Examination Is The First Step

Insuring a home's title begins with a search of the public land records affecting the property. Your Lake of the Ozarks title professional will examine all pertinent documents to determine whether or not the property is insurable. Examples of these types of documents include:
  • Outstanding Mortgages & Judgments
  • Pending Legal Actions
  • Deeds & Wills
  • Notary Acknowledgments
  • Utility Line or Highway Easements
  • Property Liens
By performing this search first, title problems can be identified and resolved before you buy the house. According to surveys done by the American Land Title Association® (ALTA), title problems consistently arise in 36% (one out of three) real estate transactions.

A Corrective Process Is Vital To Curing Title Problems

Title problems come in a variety of different forms. The most common actions to cure title defects include:
  • Releases / Pay-Offs for Liens - 33%
  • Releases / Pay-Offs for Deeds & Mortgages - 19%
  • Typographical Corrections (such as Names, Addresses, and Legal Descriptions) - 17%
  • Clearing Estate / Family Issues - 11%
  • Clearing Physical Property Issues - 7%

What Happens If A Problem Is Hidden Or Missed?

Despite all of this in-depth searching and examination, title problems can still be hidden or missed. Examples of issues that may slip through the cracks and include:
  • An unknown heir who steps forward to claim ownership of the property
  • An incorrect public record
  • An expired or forged power of attorney used during a property transfer
  • A forged signature on a deed

That's Where Arrowhead Title Comes In!

When you have an owner's title policy at the Lake of the Ozarks, you are protected from these (and many other) potential hazards. Depending on the specific situation, the title insurer (yours truly) will defend the title and either perfect the title or pay the valid claim. 

Contact Arrowhead Title, Inc. to begin your title insurance process today!

The Lake of the Ozarks' Most Trusted Title Company
Where Accuracy Matters!

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750 Bagnell Dam Blvd Suite B
Lake Ozark, MO 65049

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