Demystifying Title Insurance

Title insurance serves as a crucial shield against unforeseen defects in the title during a property transaction. When purchasing a property, it provides protection against potential losses that may arise from undiscovered issues, such as a hidden lien on the property. In the unfortunate event of a loss, the title insurer steps in, covering the incurred expenses as outlined in the policy terms.

Key Points:

• Safeguard against Unforeseen Defects

• Protection in Case of Hidden Liens

• Financial Coverage by Title Insurer

• Expenses Covered as per Policy Terms

Understanding Your Title Policy

Title insurance provides essential protection for both lenders and owners, each with their own distinct policy. The Lender's Policy safeguards the lender for the loan amount, while the Owner's Policy protects the purchaser for the purchase price. Noteworthy is that the title insurance premium is a one-time payment made at closing, and the policy remains valid for as long as you or your heirs own the home.