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Title Insurance
Title Insurance is a legal document protecting from a title defect. Title defect includes any liens or impediment which occur after closing. There is always a possibility of future claims on the property title. The new homeowner can resolve the situation with the one-time insurance payment. The agreement covers all possible administrative costs that may arise in the future.
Turnkey
Turnkey is a real estate term for the entirely renovated property. The term suggests that the buyer purchases a move-in ready home. Improvement of the homes is a job of renovation companies. These companies also offer maintenance services that save buyers time and money.
Title
The title is the document showing legal property ownership. The document identifies the parties with ownership, possession, and occupation right. The important step in the purchase is to have the title company run the property title for any issues.
Title Company
The title company is a legal entity that verifies the legitimate owner of the property. It is a prerogative that the title company runs the property through the system. The aim is to ensure that the title does not have any liens or back taxes that would prevent the sale.