Real estate is usually the most valuable asset that a person or family has. Because buying real estate is a large financial decision, many special laws have been enacted to protect real estate ownership. Whenever a property is purchased, the owner who is selling it has extremely strong rights to it. Also, there may be others - in addition to the owner - who have "rights" to the property being purchased. For example, the IRS may have tax liens secured against the property, or a contractor may have a lien on the property for lack of payment for services rendered.

Some of the things a title search uncovers are any unpaid taxes or mortgages, judgments against previous owners, easements, and many other potential court actions or recorded documents which can affect title to real estate. Prudential Utah offers title services that find and report such defects in the title to the real estate you wish to buy so that these matters can be corrected and cleared up before the closing and settlement dates.

In addition ensuring a clean title on real estate, title insurance is protection against loss from claims on real estate which cannot be discovered by examination of the public records. For example, the title to the home which is purchased - and to which you receive a deed - could be threatened or lost by past events such as a forgery, confusion due to similar names, or error in the records. These contingencies are also covered in your policy of title insurance.

If a claim is ever made against the title on a property, title insurance may protect you by:

• Defending your title, in court if necessary, at the expense of the title company
• Bearing the cost of settling the claim if it proves valid, in order to perfect your title and keep you in possession of your property.

Title insurance will help protect the real estate assets that you purchase by assessing the title of the property and making sure that you are protected in the event that problems arise. And, unlike other insurance policies that you pay for monthly, title insurance is only paid for once and remains in effect for as long as you own the property.