Title Insurance Protects Your Home Investment

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Buying a home may be the biggest investment you make in your life. Before closing on the house, you'll want to know that no individual or entity has a claim or lien to the property.

A title insurance company does all the research to insure that a property has clear title. Making sure that a property is clear of all legal encumbrances is the job of a title insurance company.

For a modest, one-time title insurance premium, you will receive continuous title insurance protection equal to the purchase price of the property or its current market value.

The title insurance company searches the title history of the property. Through its research, the title insurance company can almost always find any title problems and have these problems cleared-up prior to closing.

Because Real Estate Law is so complex, 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 owner's policy will describe the property and outline the limitations on your ownership. It will also cover what the title insurance company is responsible for. Title insurance covers the following:

• 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 company will defend your 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. Defects are rare, but they can be very difficult, making the property inaccessible, unbuildable, or unsaleable. Many other complicated problems define "Defective title" or "Clouded Title." The title company will discover these title problems, or if they miss them, insure your loss up to the amount of the policy.

Executive Lending Group can answer questions about title insurance and many others. Give us a call at 4056158543.