While often overlooked, small businesses are the economic backbone of the U.S., creating jobs and revenue. The title industry, primarily composed of small businesses, not only offers insurance for homes but also generates economic growth and contributes to communities.
Title insurance provides crucial protection for homeowners and lenders against various risks like tax liens, fraud, and recording errors. Title professionals work to resolve issues before purchase, preventing any potential claims. Post-closing, title insurance offers long-term protection for property ownership.
Title insurance professionals spend significant time addressing title issues, with about 22 hours for a standard transaction and 45 hours for more complex ones. These efforts are crucial, as 70% of public records are still not digitized at the county level.
#small-business-month #title-industry #economic-contribution #homeownership-protection #title-insurance
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