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Title Insurance = Peace of Mind
24 Hour Recorded Information on
what
Title Insurance Is:
1-800-741-8634
ext. 6719
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call Anytime, 24 Hours a Day
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“Hiring A Real Estate Agent”
1-800-741-8634 ext. 6109 |
Purchasing a home is probably the single biggest
investment you will ever make. Before closing on the
house, you'll want to know that no other individual
or entity has a right, lien or claim to the
property.
Determining that your rights and interests to the
property are clear is the business of a title
insurance company.
For a modest, one-time title insurance premium, you
will receive continuous title insurance protection
in an amount equal to the purchase price of the
property or its current market value. This premium
typically includes your "owners" policy as well as
the "lenders" policy.
One of the marked advantages of title insurance is
that prior to a policy being issued, the title
insurance company completes extensive research into
relevant public records, maps and documents to trace
ownership of the property and determine if anyone
other than you has an interest in the property.
Through its research, the title insurance company
can usually identify any title problems that may
arise and have these problems cleared-up prior to
closing.
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
insurance company's responsibilities should any
claim covered by the policy terms arise. Typically
your title insurance will protect you from loss:
if someone contests your title in legal action (the
title insurance company will defend the title at no
expense to you),
or if there is a title defect that cannot be
eliminated (the title insurance company will protect
you from financial loss - up to the amount of the
policy). |
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