Title Insurance Protects Your Biggest Investment

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The biggest investment you will make in your lifetime will probably be the purchase of a home. Before you close, you'll want to know that no other individual or entity has a right, lien or claim to the property.

A title insurance company ensures that your new property is free of encumbrances and other legal obstacles.

You pay the title insurance company a single premium which includes the cost of verifying clear title and covers you in case some fault is later discovered in the title.

The title insurance company searches the title history of the property. Through its research, the title insurance company can usually identify any title problems and clear up these problems 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 selling your property. Your owner's policy will describe the property and outline any recorded limitations on your ownership. It will also set forth the title company's responsibilities should any claim covered by the policy terms arise. 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 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 complex problems define "Defective title" or "Clouded Title." The title insurance policy will protect you from these errors if the title company doesn't discover them.

F&T Mortgage, Inc. NMLS # 168839 (www.nmlsconsumeraccess.org) can walk you through the pitfalls of getting a mortgage. Give us a call: 214-300-8756.



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