Title Insurance

What is title insurance?

Well, first we have to know what title is. Just remember that title is ownership. When you have title, it means that you are the owner. So title insurance insures that you are the owner.

Still a bit blurry? Let's look at this a little bit more.

Everyone has things they look for when buying a house. Maybe you are looking for good schools, to be close to work, or to have a playground close by. These are all important things to consider, but what about the history of the property?

Over the years, things like liens, easements, and subdivisions may cause confusion over who has rights to the property. Even divorces can result in legitimate claims to the title on your house after you buy it.

That's where title insurance comes in.

When you buy or refinance a home, title insurance confirms there's no dispute over who has rights to the property.

Unlike auto, health, or homeowners insurance where you pay a monthly premium for value after-action, you pay for title insurance up front to protect you from future claims.

They research the chain of title, which is the history of ownership. By the time you're ready to close the deal, title insurance gives you and your lender peace of mind that any disputes or restrictions are resolved or known.

If a claim does come up, the title insurance company has to deal with the costs and hassles, not you. You just keep on relaxing in your house.

There's a bit more detail in this video if you want to learn more.