Title Insurance Protects Your Investment

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Purchasing a home is probably the largest investment you will make in your lifetime. So before you sign on the dotted line, you want to be sure that the "title" of the property is clear of other claims.

A title insurance company ensures that your new property is free of 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 insurance company performs an extensive search on the title history of the property. Through its research, the title company can almost always find any title problems that may arise and clear up these problems prior to closing.

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. Typically your title insurance will protect you in the following cases:

• Contested title — Someone, usually a previous owner or occupant, claims they still own the property or have not given up their claim. In this case, the title company will defend the title at no expense to you.
• 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." The title company will discover these title problems, or if they miss them, protect you from financial loss - up to the amount of the policy.

Boardwalk Mortgage can walk you through the pitfalls of getting a mortgage. Give us a call: 1-800-606-2794.