While many property transactions go smoothly, issues can arise in seemingly unlikely scenarios that become all too real once the situation has been clarified. One example of this kind of situation is the problem of a missing heir.
Say a single homeowner sells his house. He has a son whom he has not heard from for many years and has no idea what became of him. The son finds out about the transaction and returns, claiming an interest in the property. Because he is an heir to his father’s interests, he does have a right to a share of the value of the property. Without title insurance, this would create an expensive problem for the buyers. But with the protection of title insurance, the title company would settle this claim, and the buyers would not have to pay for the son’s interest in the property.
American Home Title Group has been helping Marylanders with their title needs for over 25 years. In the ever-volatile real estate industry, a company’s longevity can be attributed to the quality of its work. With more than 120 years of experience in real estate and titles, American Home Title Group is your Baltimore title company ready to provide you with the best experience possible in every capacity.
To get you started on the way to titling your home, try our free title settlement quote program here. You can fill it out for a free, no obligation title quote. It’s easy and fast so you’ll have the information you need in seconds. Contact us for more information about our title and other real estate services.
As your Baltimore title company, American Home Title Group is ready to assist you today with a variety of real estate needs you may have. Contact us now to begin your home titling process. Our phone number is 410-750-8500. To reach us via email, please send a message to info@americanhometitlegroup.com. Follow our blog and keep up with us on Google+, Facebook, and Twitter.
Source
http://www.homeclosing101.org/whyneed.cfm#claim