3 Things to Know About Baltimore Title Insurance

Buying a home is complicated enough, and having issues with the title can make matters worse. Luckily, there is title insurance. A title company will deal with all the intricacies of home buying and simplify the process for you.title-insurance

Title Insurance Provides Security

The main benefit of having title insurance is the security and peace of mind that comes along with it if there is ever a dispute over the title. When you purchase title insurance, the title company will provide you with a Title Insurance Commitment, which is a summary of your homes history and everything that was found during a title search. This process will ensure that you are the rightful owner of the property should any issues arise.

You Must Have a Valid Title

Your title company will conduct a process to verify that your anticipated property is free of such things as liens that may adversely affect your home down the road. Using the land records of the county in which your new home is situated the title company will conduct a title search. Using all the property documents found that were attributed the home a professional “title abstractor” will complete a thorough investigation of the property.

Title Insurance Comes in Two Parts

Title insurances can really be split into two parts; a lender’s policy and owner’s policy. When the bank or mortgage company lends you funds for your home, they want to be sure that the money they are putting up will be protected. That all goes out the window if the home you own as collateral really isn’t yours. In Maryland, you will be required to purchase a lender’s policy as part of your closing cost, but have the option of purchasing your own policy. This means that should any problems arise, you will also be protected.

About Colony Title Associates

Founded in 1995, Colony Title Group handles in excess of 2000 real estate closings in Washington DC and the Delmarva area every year. The founder Tee Tillman has over 23 years of experience in the title and real estate law fields. Colony handles closings for several lenders, including banks, credit unions and mortgage brokers.

Colony is the preferred choice for many real estate brokers in the Baltimore area. If you have any questions concerning issues that Baltimore title insurance protects you from, feel free to contact us at 410 884-1160 or visit eColonyTitle.com today!

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