Title Services

What is the purpose of title insurance?

Title insurance protects the legal claim of the title owner to the property you own. When you buy a home, the seller transfers the deed over to you. You are now the title owner of the property and this is registered in the land registration of the state. If the lawyer or title company makes any errors in transferring ownership or the title was fraudulent, your title insurance will reimburse you for any financial loss you incur as a result. This ensures that you will be able to mortgage, lease or sell your property in the future.

Title insurance protects the title owner against any defects that prevent him from clearly owning the property. It also protects against any liens the former owner may have had against the real property in the form of unpaid mortgages, property taxes, and other unpaid debts, as well as title fraud, encroachment on the neighbor's property, and possible errors in public records 

What are the risks of not having title insurance?

Risks include an unsatisfied mortgage, liens, judgments, unpaid taxes, and other recorded claims against the property. Mistakes such as incorrect marital status of previous owners, recording errors, improper foreclosure actions, and improper probate proceedings for prior owners are among the causes of title defects.

What does the lender require?

The loan policy protects a lender against loss due to unforeseen title defects, but it does not protect the individual purchasing the property. This is a requirement of mortgage lenders. An owner's policy is the only protection against this type of unforeseen risk.

Understanding Title Terms

Title is the right of ownership of property. Title gives the owner the right of possession and control of (as in to sell and convey) the property.

Title Search is a document history and detailed report of all transactions recorded in the public records affecting a specific property.

Title Defect is a problem with the title which prevents the title from being marketable. Examples of title defects are prepaid liens, such as tax liens, code enforcement board liens, and judgment liens. Title defects also include a deed or mortgage that was improperly executed; an error in the legal description; an encroachment, easement, or right of way. Title defects must be corrected before good title can be transferred by the Seller.