We are often asked, “Why do I need title insurance?”, and “What does title insurance protect?”. To answer these common questions and more, we have assembled an easy-to-understand Buyer and Seller Guide to Title and Escrowfor our clients and partners.
Here’s an excerpt from The Title Insurance Value Proposition in our guide:
Title insurance protects the interests of property owners and lenders against legitimate or false title claims by owners or lien holders. It insures the title to the investment, unlocking its potential as a financial asset for the owner.
Title problems are discovered in more than one-third of residential real estate transactions. These “defects” must be resolved prior to closing. The most common problems are existing liens, unpaid mortgages, and recording errors of names, addresses or legal descriptions.
A homeowner’s title insurance policy protects the owner for as long as he or she has an interest in the property; and the premium is paid only once, at closing.
We would love to help you have an amazing closing experience on your next real estate transaction.