IOWA TITLE GUARANTY LAUNCHES ONE OF THE NATION'S FIRST TITLE THEFT COVERAGES FOR HOMEOWNERS

The following information was released by the Iowa Economic Development Authority (IEDA):

Iowa Title Guaranty (ITG) today announced the launch of one of the nation's first title theft coverage products, offering Iowa homeowners peace of mind against the fast-growing threat of title fraud.

Title theft, also referred to as seller impersonation, title fraud or deed theft, has risen sharply nationwide as scammers become increasingly sophisticated. With this new offering, ITG is putting Iowa at the forefront of consumer protection by giving both new and long-term homeowners an accessible, affordable layer of security for their most important asset.

Through the new coverage, ITG will provide no-cost legal defense and cover related expenses if title theft occurs and the title must be defended.

"Iowa Title Guaranty is committed to staying ahead of emerging threats, and we're proud to be among the first in the nation to offer this important protection," said ITG Director Dillon Malone.

The title theft protection is available in two forms:

New Owner's Endorsement, issued at the time of purchase, protecting buyers if someone later impersonates them and fraudulently transfers or encumbers the property.

Existing Owner Endorsement, offering the same forward-looking protection to current homeowners seeking added security.

Both options are offered at a flat fee of $175.