The biggest investment you will make in your lifetime will likely be the purchase of a home. Before you close, you will want to know that no other individual or entity has a lien or claim to the property.
A title insurance company ensures that your new home doesn't carry expensive encumbrances and other legal obstacles.
You pay the title insurance 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 company performs an extensive search on the title history of the property. The title insurance company can almost always find any title problems that may arise and clear up these problems before you close on the property.
Because Real Estate Law is so complex, you need an expert to make sure that all previous transactions have been correct, so you don't end up with legal problems or a problem with the title to your property. Your owner's policy will describe the property and outline any recorded limitations on your ownership. It will also cover what the title company is responsible for. Typically your title insurance will protect you in the following cases:
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