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Residential real estate matters: Title insurance claims

During the purchase of a home here in Pennsylvania or elsewhere, buyers are usually encouraged, if not required, to purchase title insurance. This insurance is designed to protect the homeowner from any title issues that may arise after a search is done and the residential real estate deal closes. However, if an issue does arise at some point in the future, that does not necessarily mean that the insurer will not attempt to deny or delay the claim.

For instance, if a homeowner somehow discovers an easement he or she did not know about prior to closing, it may be possible to make a claim against the title insurance policy. Before doing so, it would be wise to take certain steps. First, a look at the title search done during the purchase could let a homeowner know whether it was found during that search. If it was found, did it raise any red flags?

Other questions to ask involve the duration of the easement. A temporary easement may prove monumentally inconvenient, but by the time any claim is made, the easement could expire. If a permanent easement prevents the homeowner from using the land or affects the value of it, then it might be time to take the next step. Obtaining the answers to these questions will ordinarily help to determine whether to proceed with filing a claim.

As is the case with any insurance claim, problems can quickly arise. Considering a claim could affect the use and future value of what is often a Pennsylvania resident's most expensive asset, it might be beneficial to seek out the appropriate assistance in order to make sure everything is done properly. Working with a residential real estate attorney could also help head off or resolve any potential disputes that could arise during the claims process.

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