Based in Rockville, Bromberg Rosenthal LLC has been serving families and businesses in Maryland, Northern Virginia, and Washington, D.C., since 1985. Our commitment to outstanding service helps us to develop long-term relationships with our clients: They appreciate our dependability, efficiency and cost-effectiveness, and they return to us when other legal needs arise.
As a full-service law firm, our real estate attorneys do more than handle transactions. We litigate when disputes arise, and provide settlement and title insurance to clients who are buying and selling properties. You've found your dream home, or the ideal location for your business — and we want to do everything we can to help you protect it.
Why Do You Need Title Insurance?
In a real estate transaction, the title — the right to possess and use the property — passes from the seller to the buyer. This may seem simple and straightforward. But before the transaction can take place, it is important to investigate who (other than the current owner) might have rights, interests in, or claims to the property. These can include:
- Past owners and their heirs, if previous documentation is incomplete or invalid
Government agencies, such as the IRS
Banks, contractors, and others to whom the current owner owes a debt — they have a "lien" on the property
These claims remain attached to the property, even if the new owner isn't responsible for the agreement, debt, or lien. Such claims can be very costly, and may even lead to you losing your property. Title insurance protects you against this disaster, first by a thorough title search and then by providing coverage against undiscovered claims.
How Do You Find Out What Claims Exist?
When you choose Bromberg Rosenthal LLC as your real estate and title insurance attorneys, we will conduct a diligent "title search" of the public records, carefully examining all documents associated with the property. We will uncover the types of claims mentioned above, as well as fraudulent acts, forgery, or improper execution of the deed. We'll inform you of anything we discover, so that you know what you're getting into before you buy the property. You can decide whether to resolve the issue or walk away from the deal altogether — and feel confident that there won't be surprises.
How Does Title Insurance Work?
Title insurance works a bit differently than other types of insurance. Most importantly, whereas health or car insurance covers incidents occurring after you purchase the insurance, title insurance only covers claims that existed before your date of purchase. Also, it does not cover any claims revealed by the title search.
The first benefit of title insurance is the information gathered during the title search. The second is that any hidden or undiscovered claims — those not shown on public records, and not disclosed before your transaction — will be covered by your insurance policy. This means that if someone makes a claim that threatens your ownership, your insurer will defend your title, and settle the case if the claim proves to be valid, at no cost to you. Your asset or investment is fully protected.
Contact Our Firm to Ensure You Get Clear Title
Buying or selling property? Whether that property is commercial or residential, call 301-251-6200 to discuss title and settlement insurance with the experienced lawyers at Bromberg Rosenthal LLC. If you prefer, you can email the firm.