Title Insurance Protects Your Home Investment

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Purchasing a home is likely the biggest investment you will make in your lifetime. Before you close, you will want to know that no other individual or entity has a lien or claim to the property.

Determining that your rights and interests to the property are clear is the business of a title company.

You pay the title insurance 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 company performs an extensive search on the title history of the property. The title company can almost always find any title problems that may arise and clear up these problems prior to closing.

Because Real Estate Law is so complicated, you need an expert to make sure that all previous transactions have been correct, so you don't end up with legal problems or a problem selling your property. Your title insurance owner's policy will describe the property and outline any recorded limitations on your ownership. It will also cover what the title company is responsible for. Title insurance covers the following:

• 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 — This is a general term for a legal problem with the title that cannot be corrected and includes "contested title" above. 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 complicated problems define "Defective title" or "Clouded Title." The title insurance policy will protect you from these errors if the title company misses them.

Custom Lending Group can walk you through the pitfalls of getting a mortgage. Call us: 7072522700.