Title Insurance = Peace of Mind

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The biggest investment you will make in your life will likely be purchasing a home. So before you close, you need to be sure that that nobody else can claim the property.

A title company ensures that your new home is free of encumbrances and other legal obstacles.

You pay the title company a single premium which includes the cost of verifying clear title and covers you in case some fault is later discovered in the title.

The title insurance company searches the title history of the property. Through its research, the title company can almost always find any title problems that may arise and clear up these problems prior to closing.

Real Estate law is extraordinarily complicated. Title companies make sure that all the T's are crossed and all the I's are dotted so you don't end up with a clouded title and legal problems. Your owner's policy will describe the property and outline any recorded limitations on your ownership. It will also cover what the title insurance company is responsible for. Title insurance usually covers:

  • Contested title — This usually happens when someone who owned or even lived in the home before you claims to still hold an interest. If this happens, the title insurance company will defend the title and will cost you nothing.
  • Defective title — "Defective title" covers any number of problems with the title to your home. It can even include a "contested title". Other examples of title defects include problems with legal access to the property, easements that make the property less usable, unusable, or unsaleable. Many other complex problems define "Defective title." The title company will find these title problems, or if they miss them, protect you from financial loss - up to the amount of the policy.

At Custom Lending Group, we answer questions about this process every day. Give us a call: 7072522700.