Title Companies

A real estate transaction is a complicated thing, and involves more than just the buyer and seller. Fortunately, there are professionals who specialize in making sure the closing goes smoothly, the Title Company. Part of the duties of a Title Company include making sure the title of the property in question is clear of liens and claims; issuing insurance; coordinating all the documents required by law; and making sure the funds are distributed appropriately.

Is Title Insurance important?

The single greatest investment that most people make in their lives is their property. How devastating would it be to lose you home due to a defective title or unknown lien on your property? That's how important title insurance is - it protects the largest investment most people ever make.

Why would a title not be clear?

Sometimes government agencies place liens on properties when assessments or taxes have not been paid. Previous owners may have used the property as collateral for unpaid loans. All these claims on the property should be cleared during the title search. Title Insurance takes over if a claim surfaces that was not found in the title search.

My lender has insurance, do I need my own?

Lender's insurance protects the lender, even though you have to pay for it. An owner's policy protects you not only from damage from a claim, but from loss incurred in fighting the claim, such as legal fees.

Is Title Insurance expensive?

Unlike other insurance policies, Title Insurance is a one-time cost. Given the size of the investment you are making, it is important protection for your overall assets.