What is an owner's title policy?

An Owner's Policy provides assurance that your title company will stand behind you --monetarily and with legal defense if needed -- if a covered title problem arises after you buy your home. The bottom line is that your title company will be there to help pay valid claims and cover the costs of defending an attack on your title.

Sometimes title problems occur that could not be found in the public records or are inadvertently missed in the title search process. To help protect you in these events, it is recommended that you obtain an Owner's Policy of Title Insurance to insure you against most unforeseen problems. It is a one-time fee, paid at closing, and protects you for as long as you or your heirs have an interest in the property.

Why do I need title insurance

When you purchase your home, how can you be sure that there are no problems with the home's title and that the seller really owns the property? Problems with the title can limit your use and enjoyment of the property, as well as bring financial loss.  You expect to enjoy certain benefits from ownership... to be able to occupy and use the property as you wish; to be free from debts or obligations not created or agreed to by you; and to be able to freely sell or pledge your property as security for a loan.   Title Insurance is designed to cover these rights.

Without an Owner's Title Insurance Policy, you may not be fully protected against errors in the public records, hidden defects not disclosed by the public records, or mistakes made during the examination of the title of your new property. As a result, you may be held fully accountable for any liens, judgements or claims brought against your new property. However, your Owner's Title Policy insures that if such an occasion arises, you will be defended, free of charge against all covered claims and paid up to the amount of the policy to settle valid claims.

What is title insurance?

Title Insurance protects against the risks involved in every real estate transaction. It is an insurance policy that protects the insured against loss, should the condition of the land be other than as insured.

Unlike other types of insurance that offer protection against future possible occurrences, Title Insurance offers protection against past occurrences which could result in a claim at a future date.

Title Insurances provides the insured with "peace of mind" in knowing that you are receiving a good and marketable title to the real estate you are purchasing.