Knowledge is power. Knowledge shared is power multiplied. We want to share some facts with you that have to do with the single greatest investment that you will ever make – your ‘real property’
At a recent seminar, we learned that the most litigious matters today DO NOT deal with personal injury, but rather with property boundaries and titles. In recent years, most real estate lawyers have recommended that home buyers purchase title insurance. While this is undoubtedly a prudent practice, changes to title insurance due to increasing claims have changed the nature of the coverage. This has lead to the promotion of a new best practice; ensuring due diligence with regard to property boundaries in addition to the acquisition of title insurance. Buyers and their representatives are encouraged to seek a legal and up-to-date survey where possible to better understand what they are buying. If you’re the seller, having an up-to-date survey is a worthwhile pre-listing tool.