Title Insurance for Your Peace of Mind

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The biggest investment you will make in your life will probably be purchasing a home. So before you sign on the dotted line, you want to be certain that the property's title is clear of other claims.

Determining that your rights and interests to the property are clear is the business of a title 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 property's title history. The title company can almost always find any title problems and clear up these problems 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 title insurance owner's policy will describe the property and outline any recorded limitations on your ownership. It will also cover what the title insurance company is responsible for. Title insurance covers the following:

• Contested title — This usually happens when someone who owned or even lived in the home before you claims to still hold an interest. In this case, the title insurance company will defend your title at no expense to you.
• Defective title — "Defective title" covers any number of problems with the title to your home. It can even include a "contested title". Other examples of title defects include problems with legal access to the property, easements that make the property less usable, unusable, 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.

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