Title insurance provides invaluable protection for your property ownership, acquired through a one-time payment to a title company. This safeguard remains effective as long as you own the property, shielding you from unforeseen claims that could jeopardize your property value or ownership rights.

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WHY TITLE INSURANCE IS CRUCIAL

When investing in a home, it's paramount to receive what you've paid for. Title issues, also known as "defects," can restrict your property's use, diminish enjoyment, and lead to substantial financial losses.

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THE TITLE SEARCH PROCESS

Once your real estate contract is fully executed, a skilled title insurance professional conducts a thorough search of public records to identify potential title complications (refer below for common issues).

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TYPES OF TITLE INSURANCE POLICIES

Two primary types of title insurance policies exist: a lender's policy, safeguarding the entity financing the real estate purchase, and an owner's policy, protecting the new property owner. While the lender's policy is typically based on the outstanding loan amount, focusing on the lender's security, it is crucial to note that it doesn't provide protection for the buyer. Buyers should strongly consider obtaining a separate policy, namely the owner's policy.

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OWNER'S POLICY PROTECTION

Occasionally, title problems not initially identified in public records or during the search process may surface. The Owner's Policy serves as a shield against these risks and is typically issued for the total purchase price of the real estate transaction. Only the Owner's Policy ensures protection for the buyer when facing covered title problems. Examples of such issues include errors or omissions in deeds, mistakes in record examinations, forgery, undisclosed heirs, and liens benefiting other properties.

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GUARANTEE OF PROTECTION

With an Owner's Policy, your title company commits to standing by you, both financially and legally, in the event of covered title problems arising after your property purchase. This assurance reinforces your peace of mind and safeguards your investment.