Title Insurance Protects Your Home Investment

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Purchasing a home is likely the single largest investment you will ever make. Before closing on the house, you'll want to know that no other individual or entity has a right, claim or lien to the property.

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

You pay the title company a single premium which includes the cost of verifying clear title and covers you in case some fault is later discovered in the title.

The title insurance company searches the property's title history. The title insurance company can usually find any title problems and clear up these problems prior to closing.

Because Real Estate Law is so complex, 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 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 covers the following:

• 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 your title at no expense to you.
• Defective title — "Defective title" covers any number of problems with the title to your home. It can even include a "contested title". Defects are rare, but they can be very difficult, making the property inaccessible, unbuildable, or unsaleable. Many other complex problems define "Defective title." The title company will find these title problems, or should they miss them, protect you from financial loss - up to the amount of the policy.

At AmeriBest Mortgage, we answer questions about this process every day. Call us at 3217777277.