When it comes to property transactions, be it financing, buying, or selling, a comprehensive record of the transaction is typically filed in public archives. These records extend beyond the transaction itself, encompassing various events that could impact the property’s ownership, such as liens or levies. Title insurance plays a crucial role in safeguarding your investment, and at Title Resources Inc., we are dedicated to demystifying this essential component of real estate transactions.
Title insurance involves a meticulous examination of public records by a title company to identify and address various types of ownership issues that may arise. The process begins with a thorough search of public records to ascertain the property’s ownership status. Following this, the underwriter assesses the title’s insurability based on the findings.
Despite the expertise of title professionals, certain property-related problems may elude detection. Issues such as title problems arising from filing errors, forgeries, or undisclosed heirs can be challenging to uncover. Consequently, in addition to the search process, the title company provides a title insurance policy designed to shield you from potential issues that may surface later.
For those securing a mortgage loan during a property purchase, a loan policy of title insurance is a requirement imposed by the lender. This policy serves to protect the lender’s interest in the property until the loan is either paid off or refinanced.
Conversely, an owner’s policy of title insurance is tailored to safeguard your ownership rights to the property. Unlike other types of insurance you only make a one-time payment for this policy, the coverage extends for as long as you own your home.
A real estate purchase often stands as the most significant financial investment one makes. In this context, acquiring an owner’s policy of title insurance is akin to purchasing peace of mind. It provides a layer of protection, ensuring that your ownership rights are shielded from unforeseen issues that may emerge over time.
At Title Resources Inc., our commitment goes beyond facilitating real estate transactions; we are dedicated to providing you with the knowledge and assurance needed to navigate the complexities of property ownership. Consider title insurance not just as a transactional necessity but as a long-term investment in securing your property.
