Title Insurance provides coverage for certain losses due to defects in the title that, for the most part, occurred prior to your ownership. A Loan Policy of Title Insurance protects the interest of the mortgage lender, while an Owner’s Policy protects the equity of you, the Buyer, for as long as you or your heirs own the real property.
Some examples of title defects include:
- A previous owner used the home as security for an outstanding loan.
- A previous owner included the home in an inheritance, and it was overlooked.
- Stolen or forged documents.
- A previous owner did not get a signature from a co-owner.
- Liens that seek payment for debt such as taxes, child support, or contractor’s fees.
- A deck or extension was built without a permit from County.
Title Insurance ensures a comfortable peace of mind by guaranteeing a safe protection of the buyer and his or her investment, finances, and home.
