Protecting Your Home with Title Insurance

	Shopping for a mortgage? We'd be thrilled to answer your questions about our many mortgage solutions! Give us a call today at 3038627760. Want to get started? Apply Here.

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

Determining that your rights and interests to the property are clear is the business of a title insurance company.

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 performs an extensive search on the property's title history. The title insurance company can usually identify any title problems that may arise and have these problems cleared-up 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 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 company will defend your title at no expense to you.
• Defective title — This is a general term for a legal problem with the title that cannot be corrected and includes "contested title" above. 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." The title insurance company will discover these title problems, or if they miss them, protect you from financial loss - up to the amount of the policy.

Tenby J. Dahman The Dahman Team can answer questions about title insurance and many others. Call us at 3038627760.