Homeowners, investors and lenders in the United States have been using title insurance for decades. No one would even think of entering into a real estate transaction without it.
Caribbean and Latin American homeowners, investors, and lenders have historically relied on an opinion letter from an attorney as their safeguard against unforeseen problems stemming from a property purchase or financing. Many are discovering this is no longer sufficient and realize title insurance from First American Title Insurance Company is an essential tool for anyone purchasing real estate in the Caribbean or Latin America.
Title Insurance provides cost-effective, comprehensive protection against title defects. When purchasing or providing financing for any property, there is always the risk of related title defects. These defects could include survey errors, title flaws, fraud, forgery, undisclosed liens and encumbrances, or a host of other problems.
Attorneys identify these risks, but the client must decide whether or not to accept the risks. If by chance the attorney misses something, a hidden defect for example, buyers could face substantial losses or damages.
Title insurance can insure over defects, thus eliminating the risk for the client. And, if a defect is missed, First American protects the client against actual losses that may occur. Plus, if you have a First American policy, you make your claim directly to First American. First American has the duty to defend you as well as indemnify you against covered losses.
First American issues policies in the Caribbean and Latin America similar to those issued in the United States, but has tailored them to international needs. Starting with the standard ALTA policy form, First American has developed specific international policies for the region. First American can issue policies on property in all countries of the region through the help of local affiliated attorneys.
For more information, please feel free to contact me.
Jose C. Santiago
Phone: (55-11)9348-5729 - São Paulo, Brazil
|This message has been edited by yachtmarine from IP address 22.214.171.124 on Mar 19, 2006 12:43 PM|