Title Insurance = Peace of Mind

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

A title insurance company ensures that your new home won't surprise you with expensive encumbrances and other legal obstacles.

You pay the title company a single premium which includes the cost of verifying clear title and covers you in case some fault is later discovered in the title.

The title insurance company searches the title history of the property. Through its research, the title insurance company can usually identify any title problems and have these problems cleared-up before you close on the property.

Real Estate law is extraordinarily complex. 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 the limitations on your ownership. It will also cover what the title insurance company is responsible for. Title insurance covers the following:

  • Contested title — This usually happens when someone who owned or even lived in the home before you claims to still hold an interest. If this happens, the title company will defend the title and will cost you nothing.
  • Defective title — This is a general term for a legal problem with the title that cannot be corrected and includes "contested title" above. Other examples of title defects include problems with legal access to the property, easements that make the property less usable, unusable, or unsaleable. Any number of other complex problems define "Defective title" or "Clouded Title." The title insurance policy will protect you from these errors if the title company doesn't discover them.

MidTowne Mortgage can walk you through the pitfalls of getting a mortgage. Give us a call at (478) 746-2063.

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