Title Insurance Services
Protect Your Property Rights With Title Insurance
What Is Title Insurance?
Title insurance is a policy designed to help protect property owners and lenders from covered title problems that may affect legal ownership rights. Before a real estate transaction closes, a title search is performed to review public records, confirm the seller’s right to transfer ownership, and identify issues that could interfere with clear title. Even with a careful title search, some title defects may remain hidden, which is why title insurance provides an added layer of protection.
There are two common types of title insurance: a lender’s policy and an owner’s policy. A lender’s policy protects the lender’s interest in the property up to the loan amount, while an owner’s policy helps protect the buyer’s ownership interest in the property. A lender’s policy is often required for financed purchases, while an owner’s policy is typically optional but strongly recommended.
What Does an Owner’s Title Insurance Policy Cover?
An owner’s title insurance policy helps protect your interest in the property from certain covered title issues that may not be discovered before closing. These problems can threaten your ownership rights or create unexpected financial risk after the transaction is complete.
- Errors in the recording or indexing of legal documents
- Forged deeds, releases, or wills
- Undisclosed or missing heirs, including unknown spouses
- Documents signed by someone who was legally incompetent or underage
- Deeds signed under an invalid or expired power of attorney
- Liens related to unpaid property taxes
- Fraud and other hidden title defects
For a one-time premium typically paid at closing, title insurance can provide legal defense against covered claims and financial protection if a covered title issue affects your ownership rights or property value.
What Is A Title Search?
A title search is a detailed review of available public records related to a property. Its purpose is to confirm the seller’s legal right to transfer ownership and uncover issues such as unpaid taxes, unsatisfied mortgages, judgments, easements, restrictions, or other matters that could affect title.
While a title search can reveal many problems tied to ownership history, some hidden defects may still go undetected. Title insurance helps protect against certain covered risks that may remain after the search is complete.
How Long Does Title Insurance Coverage Last?
A lender’s title insurance policy generally remains in effect until the mortgage is paid in full. An owner’s title insurance policy typically remains in force as long as you or your heirs maintain an interest in the property.