Title Insurance = Peace of Mind

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The biggest investment you will make in your lifetime will probably be purchasing a home. Before you close, you'll want to know that no individual or entity has a right, lien or claim to the property.

A title company ensures that your new property 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 identify any title problems that may arise and have these problems cleared-up before you close on the property.

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 with the title to your property. Your title insurance owner's policy will describe the property and outline the limitations on your ownership. It will also cover what the title company is responsible for. Typically your title insurance will protect you in the following cases:

• Contested title — Someone, usually a previous owner or occupant, claims they still own the property or have not given up their claim. In this case, the title insurance company will defend your title at no expense to you.
• 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. Any number of other complex problems define "Defective title" or "Clouded Title." The title insurance company will uncover these title problems, or if they miss them, insure your loss up to the amount of the policy.

At Executive Lending Group, we answer questions about this process every day. Give us a call: 4056158543.