What’s the Deal With Title Insurance?

whats the deal logoWhat is Title Insurance?

Title insurance is an insurance policy that protects your legal interest in your home. When a piece of real property changes hands, a record of that transaction is filed in the public deed records. Likewise, other events that may affect the ownership of a property are also documented and filed, such as mortgages, liens, easements, and covenants.

When a buyer purchases title insurance, the title company or attorney searches these records to find (and remedy, if possible) issues that may affect the purchaser’s ownership. Of course, even the most skilled title professionals may not find all title problems. That’s one reason why your title insurance policy can play a key role in protecting your real estate investment.

If you are borrowing money to purchase your home, you will be required by your lender to purchase a loan policy of title insurance. This policy insures the lender against covered title defects up to the amount of insurance. However, this policy does not protect your interest in the home.

Therefore, you will also have the option of purchasing an owner’s policy of title insurance, which provides insurance directly to the insured owner listed in the policy. This coverage lasts for as long as you own the home. For a one-time premium, title insurance can give you the peace of mind you need to protect your investment.

[su_note note_color=”#eeeeee”]If you have questions about title insurance or any other real estate topic, please call the Midtown Condo Experts at CityMax Realty today at 404-926-6027![/su_note]

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