Why You Need Title Insurance

Most types of insurance focus on possible future events and charge an annual premium. Title insurance is different. It protects against defects that occurred in the past and is paid with a one-time premium at closing.

Why title insurance?

Title insurance was first issued in 1871 to enable speed and efficiency when property is conveyed. Because of title insurance, real estate transactions can occur more quickly and with greater certainty.

How does the process work?

A title company examines public records related to the property. If a defect is discovered, they work with all parties to resolve the issue before closing.

What is needed to resolve title defects?

• Releases or payoffs for liens
• Clearing of estate-related issues
• Correcting public record errors

What types of policies are available?

• Owner’s policy (protects the homeowner)
• Lender’s policy (protects the lender)