Title Insurance Protects Your Home Investment

	In the market for a mortgage loan? We'd be thrilled to talk about your mortgage needs! Give us a call today at 9254610500. Want to get started? Apply Here.

Buying a home may be the largest investment you make in your life. So before you commit to the transaction, you must be sure that the "title" of the property is free of any other claims.

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

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 insurance company performs an extensive search on the property's title history. Through its research, the title insurance company can usually find any title problems that may arise and have these problems cleared-up prior to closing.

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 title insurance owner's policy will describe the property and outline any recorded limitations on your ownership. It will also set forth the title company's responsibilities should any claim covered by the policy terms arise. 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 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. Defects are rare, but they can be very difficult, making the property inaccessible, unbuildable, or unsaleable. Many other complex problems define "Defective title." The title insurance policy will protect you from these errors if the title company doesn't discover them.

At Pacificwide Lending, we answer questions about this process every day. Give us a call at 9254610500.