Protecting Your Home with Title Insurance

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Purchasing a home is probably the biggest investment you will ever make. Before you close, you'll want to know that no other individual or entity has a right, lien or claim to the property.

A title company ensures that your new property is free of expensive encumbrances and other legal obstacles.

You pay the title insurance company a single premium which includes the cost of verifying clear title and covers you in case some fault is later discovered in the title.

The title insurance company searches the property's title history. The title company can almost always identify any title problems that may arise and clear up these problems before you close on the property.

Real Estate law is extraordinarily complicated. Title companies make sure that all the T's are crossed and all the I's are dotted so you don't end up with a clouded title and legal problems. Your owner's policy will describe the property and outline the limitations on your ownership. It will also set forth the title insurance company's responsibilities should any claim covered by the policy terms arise. Title insurance covers the following:

  • Contested title — Someone, usually a previous owner or occupant, claims they still own the property or have not given up their claim. In this case, the title insurance company will defend the title at no expense to you.
  • Defective title — This is a general term for a legal problem with the title that cannot be corrected and includes "contested title" above. Defects are rare, but they can be very difficult, making the property inaccessible, unbuildable, or unsaleable. Many other complex problems define "Defective title." The title insurance policy will protect you from these errors if the title company misses them.

At Real Property Finance, we answer questions about this process every day. Call us: 310-379-5997.

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