Title Insurance Protects Your Biggest Investment

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Buying a home will likely be the biggest investment you make in your lifetime. So before you close, you need to be sure that that no one else can claim the property.

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

For a modest, one-time title insurance premium, you will receive continuous title insurance protection equal to the purchase price of the property or its current market value.

The title company performs an extensive search on the property's title history. Through its research, the title company can almost always find any title problems that may arise and have these problems cleared-up before you close on the property.

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 company is responsible for. Typically your title insurance will protect you in the following cases:

• 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 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. Any number of other complicated problems define "Defective title." The title insurance company will uncover these title problems, or if they miss them, protect you from financial loss - up to the amount of the policy.

Custom Lending Group can walk you through the pitfalls of getting a mortgage. Call us: 7072522700.