Title
The legal right to ownership of real property. Title encompasses the owner right to possess, use, and dispose of the property. In an HOA community, title is subject to the restrictions and obligations of the governing documents. Title insurance protects against defects or encumbrances that were not disclosed at the time of purchase.
Related Terms
Frequently Asked Questions
What is title insurance and do I need it for an HOA property?
Title insurance protects against defects or encumbrances that were not disclosed at the time of purchase, such as undisclosed liens, recording errors, or forged documents. It is strongly recommended for any property purchase, including HOA properties. Lenders typically require a lender's policy, and buyers should also purchase an owner's policy for their own protection.