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FAQs - Real Estate

Title insurance protects the owner of real estate from past defects in title when the property was transferred from one owner to the next.  Sometimes these defects arise many years after you have sold the property.  They can arise due to forgery, mistakes recording the deed, missing heirs who appear with a claim or lien, or other problems that could have occurred during the chain of title.  If you finance the purchase of the property with a mortgage, the lender will require you to purchase title insurance to protect the lender from loss.  In addition, the property purchaser should purchase an owner's policy to protect themselves from title defects.

When a real estate developer builds units that have common areas combined with individual property rights, a homeowners association is formed to manage the property.  The association can be formed as a not-for-profit corporation or an unincorporated association. The developer may have a role in forming the association.  Sometimes the developer can be responsible for claims that arise by the association such as construction defects and other breaches.  The homeowners association is created by and operates under legal documents called the declaration, articles of association, and bylaws.