Buying a home will likely be the biggest investment you make in your lifetime. Before you close, you will want to know that no individual or entity has a lien or claim to the property.
A title insurance company ensures that your new home won't surprise you with 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 performs an extensive search on the property's title history. The title company can usually find any title problems that may arise and clear up these problems prior to closing.
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 any recorded limitations on your ownership. It will also set forth the title insurance company's responsibilities should any claim covered by the policy terms arise. Title insurance usually covers:
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