Protecting Your Home with Title Insurance

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Buying a home may be the largest investment you make in your life. Before you close, you will want to know that no individual or entity has a claim or lien to the property.

A title company ensures that your new home doesn't carry expensive 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 company performs an extensive search on the property's title history. The title company can usually identify any title problems and have these problems cleared-up prior to closing.

Real Estate law is extraordinarily complicated. Title companies make sure that all the T's are crossed and all the I's are dotted so you don't end up with a clouded title and legal problems. Your title insurance owner's policy will describe the property and outline any recorded limitations on your ownership. It will also cover what the title insurance company is responsible for. Title insurance usually covers:

• Contested title — Someone, usually a previous owner or occupant, claims they still own the property or have not given up their claim. If this happens, the title company will defend the title and will cost you nothing.
• Defective title — This is a general term for a legal problem with the title that cannot be corrected and includes "contested title" above. Defects are rare, but they can be very difficult, making the property inaccessible, unbuildable, or unsaleable. Many other complicated problems define "Defective title." The title insurance policy will protect you from these errors if the title company doesn't discover them.

Tenby J. Dahman The Dahman Team can walk you through the pitfalls of getting a mortgage. Call us: 3038627760.