Title insurance may not be as widely understood as health insurance or car insurance, but it is equally as important for homeowners to secure. Far too many homeowners have found themselves navigating tricky and potentially disastrous situations that only title insurance can resolve.
Title Insurance: Protection For Your Purchase
Unlike health insurance that requires a monthly fee in order to maintain coverage for potential future problems, title insurance involves a single charge, usually around $1,000, to ensure the legitimacy of your home before you buy. A title company will complete thorough research to ensure that the title to your future property can rightfully become yours and that no conflicts exist that would prevent the sale from going through. Common problems that occur include unpaid taxes, judgements, and ownership disputes that place the title of the home into question. Assuming the title company finds that the title is valid, you will receive a legal document stating the validity of the title you are purchasing. This document protects you from any financial loss in the future if an unrealized title conflict arises. Read more