Title Insurance for Your Peace of Mind

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Buying a home may be the biggest investment you make in your lifetime. So before you close, you need to know that nobody else has a claim to the property.

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

For a modest, one-time title insurance premium, you will receive continuous title insurance protection equal to the purchase price of the property or its current market value.

The title company searches the property's title history. Through its research, the title company can usually identify any title problems and have these problems cleared-up prior to closing.

Because Real Estate Law is so complicated, 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 selling your property. Your title insurance 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. Title insurance usually covers:

• 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". Other examples of title defects include problems with legal access to the property, easements that make the property less usable, unusable, or unsaleable. Many other complicated problems define "Defective title." The title company will uncover these title problems, or if they miss them, protect you from financial loss - up to the amount of the policy.

At Boardwalk Mortgage, we answer questions about this process every day. Call us: 1-800-606-2794.