Title Insurance in the Dominican Republic
When a property (a home, condo, land or any other type of building) is purchased, Title Insurance can also be purchased in the Dominican Republic. Owning your property free and clear involves more than having a deed in hand. A deed does not cancel certain prior "rights" and "claims" other people may have to your property.
A title guaranty (such as Stewart Title or first American) is purchased for a one-time fee and once acquired, protects the policy holder as long as there is an interest in the property. Title insurance is a contract of indemnity that protects the property rights transmitted to a new property owner/lender and indemnifies the policy holder against damage or loss arising from a defect in the title to real property. Based upon a search of public records, a Title Search brings attention to any known property Title problems before the closing takes place. Such as:
Covered title risks include:
- Invalid documents executed under expired/non-existent power
- False assumption of identity concerning the legitimate property owner
- Liens and financial burdens charged to the previous property owner
- Non registered property easements
- Hidden heirs of previous property owners
What does a title guaranty provide?
- Payment of legal expenses to defend a guaranteed title
- Payment of valid claims up to the value of the guaranty
- Thorough investigation of the title prior to issuance of title guaranty
- Please contact us today for more details about Title Insurance.
Title insurance / risk insurance company in the Dominican Republic, Stewart Title, First American.