Title Insurance for Your Peace of Mind

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The biggest investment you will make in your lifetime will probably be the purchase of a home. 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 doesn't carry 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 company searches the title history of the property. The title company can almost always find any title problems that may arise and have these problems cleared-up prior to closing.

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 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. Title insurance usually covers:

• Contested title — This usually happens when someone who owned or even lived in the home before you claims to still hold an interest. 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. Many other complicated problems define "Defective title." The title insurance policy will protect you from these errors if the title company misses them.

Pacificwide Lending can answer questions about title insurance and many others. Call us at 9254610500.