Title Insurance for Your Peace of Mind

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Purchasing a home is likely the biggest investment you will make in your lifetime. So before you sign on the dotted line, you want to be certain that the "title" of the property is clear of any other claims.

A title company ensures that your new home won't surprise you with 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 performs an extensive search on the property's title history. The title insurance company can almost always 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 set forth the title company's responsibilities should any claim covered by the policy terms arise. Title insurance usually covers:

• Contested title — Someone, usually a previous owner or occupant, claims they still own the property or have not given up their claim. If this happens, the title insurance company will defend your title and will cost you nothing.
• 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 complicated problems define "Defective title." The title insurance company will find these problems, or if they miss them, insure your loss up to the amount of the policy.

At Foxfield Financial, we answer questions about this process every day. Call us: 7205988300.