Title Insurance Protects Your Biggest Investment

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The biggest investment you will make in your life will probably be purchasing a home. So before you close, you need to be sure that that nobody else can claim 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 searches the property's title history. The title company can almost always identify any title problems and clear up these problems prior to closing.

Real Estate law is extraordinarily complicated. 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 set forth the title insurance company's responsibilities should any claim covered by the policy terms arise. 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. In this case, the title insurance company will defend your title and will cost you nothing.
  • Defective title — "Defective title" covers any number of problems with the title to your home. It can even include a "contested title". Defects are rare, but they can be very difficult, making the property inaccessible, unbuildable, or unsaleable. Any number of other complex problems define "Defective title." The title company will uncover these problems, or if they miss them, protect you from financial loss - up to the amount of the policy.

First Southeast Mortgage Corporation can answer questions about title insurance and many others. Call us at 954.920.9799.

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