Title Insurance = Peace of Mind

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Purchasing a home is probably the single largest investment you will ever make. Before closing on the house, you'll want to know that no other individual or entity has a right, 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 property's title history. The title insurance company can almost always identify any title problems that may arise and clear up these problems before you close on the property.

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 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. If this happens, the title insurance company will defend the 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. Defects are rare, but they can be very difficult, making the property inaccessible, unbuildable, or unsaleable. Any number of 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.

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