Purchasing a home is probably the single largest investment you will make in your lifetime. So before you sign on the dotted line, you must be sure that the property's title is free of any other claims.
A title company ensures that your new property is free of 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 company searches the property's title history. 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 title insurance owner's policy will describe the property and outline the limitations on your ownership. It will also cover what the title insurance company is responsible for. Title insurance usually covers:
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