Title Insurance = Peace of Mind

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Buying a home will likely be the biggest investment you make in your life. So before you close, you need to be sure that that no one else has a claim to the property.

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

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 performs an extensive search on the property's title history. The title insurance company can usually identify any title problems and have these problems cleared-up before you close on the property.

Real Estate law is extraordinarily complex. 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 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. 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. Any number of other complicated problems define "Defective title." The title company will discover these problems, or should they miss them, protect you from financial loss - up to the amount of the policy.

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