When you purchase a home, how can you be sure that the seller really owns the property and that there aren’t any problems with the home’s title? The simple answer… title insurance.
Title insurance protects you against most unforeseen problems that may have occurred before you owned the home. A seller may have avoided disclosing that they had used the property as collateral for an unpaid loan. They may have failed to pay real estate taxes. Or they may have had work done on the property but never fully paid the contractor.
Title insurance protects your right to your home by searching public records, then clearing and insuring the title to your home before you buy it. An owner’s policy fully protects you should a covered title problem arise with the title that was not found during the title search.
For a relatively low, one-time premium, you’re protected against legal problems over property rights for as long as you, or your heirs, own the home.
It’s a small price to pay to protect yourself against problems that could otherwise be very costly to resolve.
