The place where you live is one of your most valuable possessions.
Title insurance protects your rights to your home.
Take every precaution to protect your home.
The title insurance business protects ownership of your home, which is often the largest financial transaction you’ll make in your life. For a relatively low, one-time premium, you’re protected against legal problems over property rights that could cost tens of thousands of dollars – even the loss of your home. Dollar for dollar, an owner’s title insurance policy is one of the most cost-effective forms of insurance available to homeowners. Your one-time premium protects you for as long as you or your heirs own your property.
What Is Title Insurance?
Owner’s title insurance protects your right to your home. By searching, clearing, and insuring the title to your home before you buy it, your owner’s title policy offers protection for your property rights for as long as you and your heirs own your home. If ownership of your property ever comes into question, an owner’s title insurance policy protects you from expensive legal problems that could result in the loss of your home.
How Title Insurance Works
As property changes hands, mistakes and irregularities – often made long before you expressed interest in the property – can place your ownership in dispute.
The seller may have …
. .. avoided disclosure of using the property as collateral for an unpaid loan.
… fraudulently claimed to be the sole owner.
… failed to pay real estate taxes.
Even a simple mistake in the recording of legal documents, improper execution of legal instruments or the reappearance of undisclosed or missing heirs can result in the loss of your home.
We diligently search public records for documents associated with the property and provide you with an expert, interpretive view of the impact of all recorded matters on the property’s title.
Title insurance protects your rights to your home.
Suppose our title search reveals recorded defects, liens, or encumbrances upon the title, such as unpaid taxes, unsatisfied mortgages, easements, restrictions, or other impediments. In that case, these are reported to you before you purchase the property, and we offer solutions to resolving these impediments.
Title Insurance: The Ultimate Property Protection
If ownership of your property is ever challenged, we will defend your possession of the property – and assume the legal costs of that defense – for as long as you and your heirs own the property. What’s even better is, if any challenge to your property’s title proves to be legitimate, we will pay for your losses, just as your title insurance policy provides.
Your entire real estate investment depends upon receiving a clear title to your property. Take advantage of our expertise, strength, and superior service for peace of mind and the ultimate protection of your property.
Owner’s Title Insurance is Essential, for Protecting Your Rights:
- Title Insurance protects the interests of property owners and lenders against legitimate or false title claims by previous owners or lien holders. In effect, it insures the investment, unlocking its potential as a financial asset for the owner. Title problems are discovered in more than one-third of residential real estate transactions. These “defects” must be resolved before closing. The most common issues are existing liens, unpaid mortgages, and recording errors of names, addresses, or legal descriptions.
- An Owner’s Title Insurance Policy protects the owner for as long as he or she has an interest in the property, and the premium is paid only once, at closing.
- Title Insurance is different from other forms of insurance because it insures against events that occurred before the policy is issued, as opposed to insuring against events in the future, as health, property, or life insurance does. Title Insurance is loss prevention insurance.
- We rely on a search of existing records to identify possible defects to resolve them before issuing a policy. We perform intensive and expensive work up-front to minimize claims. Researching titles can be highly labor-intensive since only about 15 percent of public records are computerized. The industry invests substantial time and expense to collect and evaluate title records. As a result, the industry’s claims are low compared to other lines of insurance.
- Dollar-for-dollar. Title Insurance may be the best investment a property owner can make to protect their interest. The cost of title insurance and who pays for the Owner’s Title Insurance Policy depends on State Laws, local customs, and/or the agreements made in the Real Estate Contract.
Your settlement agent will assist you throughout your real estate transaction to close it successfully. For more information, visit our website at: www.cltic.com
