Buying a home may be the largest investment you make in your life. Before closing on the house, you will want to know that no individual or entity has a claim or lien to the property.
A title insurance company ensures that your new home is free of 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. Through its research, the title insurance company can almost always find any title problems that may arise and clear up these problems before you close on the property.
Real Estate law is extraordinarily complicated. Title companies make sure that all the T's are crossed and all the I's are dotted so you don't end up with a clouded title and legal problems. 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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