How to Ensure Comprehensive Title Protection
When you buy a new home, you want to make sure that the title is free and clear of liens and encumbrances before closing. Most buyers assume that because a title search was done and title insurance obtained, their title is in the clear. Not necessarily. Although a title search detects recorded liens affecting the property, it does not detect municipal charges (which can become unrecorded liens) nor issues that would be disclosed in a survey.
To ensure comprehensive title protection, two additional services must be requested: a municipal lien search and a boundary survey. Without these two components, the title insurance policy is diluted by excepting these matters from coverage.
The cost of procuring these services varies, but is typically around $650 — a small investment compared to the value of the property and the protections they provide.