Title Insurance for Your Peace of Mind

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Purchasing a home is probably the biggest investment you will make in your lifetime. So before you commit to the transaction, you want to be sure that the property's title is clear of other claims.

A title company ensures that your new home won't surprise you with 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. The title company can usually identify any title problems that may arise and clear up these problems 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 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. In this case, the title 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 complicated problems define "Defective title." The title insurance policy will protect you from these errors if the title company doesn't discover them.

Homewood Mortgage, Inc. can walk you through the pitfalls of getting a mortgage. Give us a call: 205-941-1484.

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