Title insurance protects property buyers and lenders from potential losses due to defects in the title or ownership claims that were unknown at the time of purchase. It provides financial security against legal issues that may arise after the transaction.
Key legal considerations during the closing process include ensuring all necessary documents are properly executed, understanding the terms of the sale, confirming that all conditions of the sale are met, and addressing any last-minute issues or disputes that may arise.
A real estate lawyer can help in conflict resolution by negotiating on behalf of their client, reviewing contractual obligations, and providing legal advice to resolve disputes effectively, ensuring that the interests of their client are adequately represented.