Buying a home will likely be the largest investment you make in your life. Before you close, you'll want to know that no other individual or entity has a right, lien or claim to the property.
A title company ensures that your new home doesn't carry 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 company searches the property's title history. Through its research, the title company can usually identify any title problems and have these problems cleared-up before you close on the property.
Because Real Estate Law is so complicated, 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 with the title to your property. Your owner's policy will describe the property and outline the limitations on your ownership. It will also set forth the title company's responsibilities should any claim covered by the policy terms arise. Title insurance usually covers:
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