• Nicole Happel

Title Insurance for Your Home

A title is the foundation of property ownership. It is the owners right to possess and use the property.

1. What is title insurance?

Title insurance provides protection to property owners by insuring against defects in titles that have already occurred, but have not yet been discovered.  It differs from most other types of insurance, in that most other types of insurance protect the insured against events that have not yet occurred.

2. Why do I need title insurance?

Title insurance is an insurance policy or contract issued by a title company. It protects you, the purchaser or owner, against a loss that may arise by reason of a defect in your ownership or an interest you have in real property. In addition, the title insurance company agrees to defend you in court if there is an attack on your title. It will cover attorney and court expenses or pay a loss caused by the defect in title up to the face amount of the policy subject to the terms listed in your policy.
Typically, the Seller in a transaction pays for the title insurance policy for the Buyer. In some instances, a Buyer may choose to pay for their own policy. The main advantage to this is Buyer then gets to select which title insurance company to use. Basically, he who pays selects.
A good Realtor will advise you about options on this. If you'd like to know more, feel free to contact us. We close many transactions a year and offer good advice about title insurance companies.
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