Attorney Marc Rovner on Why Title Insurance Deserves More Attention
Closing on a property feels like crossing a finish line. Paperwork signed, keys in hand, celebration mode activated. But what happens when someone shows up six months later claiming ownership rights based on a decades-old lien nobody caught?
That nightmare scenario plays out more often than most buyers realize. Attorney Marc Rovner has seen how proper title protection prevents these catastrophes, yet it remains one of the most misunderstood elements of property ownership.
Two Layers of Defense Working Together
Every successful property transaction relies on two protective mechanisms operating in tandem. The title search acts like a background check on the property itself. Professionals comb through public records before closing, looking for unpaid liens, outstanding mortgages, legal judgments, and other complications that could derail everything.
Title insurance serves a different purpose entirely. It functions as a financial safety net protecting owners and lenders from losses connected to defects that stayed hidden during the search process. Unlike typical insurance covering future incidents, title insurance protects against past events. A one-time premium paid at closing provides coverage lasting as long as you or your heirs maintain ownership.
Marc Rovner points out that combining these elements creates a security system where the search reveals existing problems while the insurance handles unforeseen claims that might surface years later.
Skipping Coverage Costs More Than Paying Premiums
Some buyers look at title insurance premiums and see an easy place to trim closing costs. That decision has preceded countless financial disasters.
The protection covers threats most people never consider until they’re staring at legal paperwork. Undiscovered liens from previous owners. Boundary disputes with neighbors. Forged documents buried in the property’s history. Claims from unknown heirs who suddenly appear with lawyers. Errors in public records that undermine your legal claim to the property.
Attorney Marc Rovner regularly witnesses how coverage saves homeowners from financial ruin when unexpected claims emerge. Previously unknown easements restricting property use. Fraudulent ownership assertions forcing legitimate owners into expensive legal battles. The premium looks insignificant compared to defending against these situations without protection.
New York Operates Differently
Property transactions in New York follow procedures unlike nearly every other state. Buyers unfamiliar with these distinctions often face delays or complications that could have been avoided.
Attorneys typically handle the complex title search process while dedicated insurance companies provide actual coverage. New York generally requires attorney involvement throughout property purchases, with legal professionals guiding buyers through intricate processes and reviewing essential documents.
Specialized closers attend settlement meetings to oversee document execution and fund transfers. The state’s Department of Financial Services regulates insurance rates, establishing uniform pricing across the industry. Buyers can focus on service quality without comparing wildly different premium structures.
Marc Rovner frequently stresses that successfully completing New York transactions demands partnering with professionals who understand the state’s specific requirements. The dual-layer system strengthens safeguards, but only when everyone involved knows their role and executes it properly.