Title is your right to own or use your property and any exclusions.

A title search is conducted of the public records, to uncover issues that could limit your rights to the property. If a title issue is discovered, most often we will take care of it without you even knowing. Once the search is complete and issues are remedied, a title insurance policy can be issued.

If you’re buying a home, title insurance is a policy that protects your investment and property rights.

There are two different types of title insurance: an owner’s policy and a lender’s policy.

An owner’s policy is the best way to protect your property rights. Either the buyer or seller may pay for this policy. Owner’s title insurance protects your investment in your property. The policy protects your property from certain future legal claims regarding ownership and some other circumstances. It covers potential legal fees and court costs for settling claims covered by your policy.

A lender’s policy is required by the lender and only protects the lender’s interests. The buyer pays for this policy.

Sometimes defects can come up after the title search that have been mis-indexed or got filed in the gap period. Under an owner’s title insurance policy, you are protected against certain undiscovered errors in the title.

Title issues include unknown:

Outstanding mortgages and judgments, or a lien against the property because the seller has not paid his taxes

Pending legal action against the property that could affect you

Unknown heir of a previous owner who is claiming ownership of the property

Unforeseeable title claims include:

Forgery: making a false document. For example, the seller misrepresents the identity of the person who sold the property.

Fraud: deception to achieve unfair gain. For example, someone steals your identity and either sells your house without your knowledge or consent, or takes out a second mortgage on the property and walks away with the money.

Clerical error: inconsistent paperwork and historical records. For example, an unforeseeable discrepancy in the property or fence line can cause confusion in ownership rights.

It is a one- time payment and based on the purchase price and/or loan amount.

Your owner’s title insurance policy lasts for as long as you or your heirs own your property.