What Exactly Is Title Insurance?

Title Insurance

Title insurance can be tricky business but with a few tips in mind you’ll be ready to reap the benefits.

Closing on a home can be stressful as it is. But worrying about a forgery, fraud or some other clerical error can really put a hamper on the whole new home celebration. So how exactly can title insurance help you? Here is everything you’ve ever wanted to know about title insurance and how it works in your favor.

Owner’s Policy For Best Benefits

When a property is financed, the lender will always make the buyer purchase a lender’s title insurance policy. This basically protects the interest of the lender in the property. However, a lender’s policy does not protect your personal ownership interest. As a result, purchasing an owner’s policy is essential. When you buy title insurance for your home, a title company searches the records to find, and possibly remedy, if possible, several types of common issues that may arise.

A title company will usually begin by searching the public records to determine the property’s ownership status. After that search is complete, the underwriter will determine the insurability of the title itself.

Not All Problems Can Be Found Initially

Even the most skilled title searcher may not locate a problem with a property’s title. In fact, there are always risks associated with a title like forgery, filing errors or undisclosed heirs. With all these worries and concerns, having your interest protected with title insurance can prove to be a huge help.

Make Smart Choices

The bottom line is that a real estate purchase may be the largest financial investment you ever make. So protect your interest by purchasing an owner’s title insurance policy so you have peace of mind and can enjoy your purchase with no worries.

A Title Insurance Company You Can Trust: Colony Title Associates

At Colony Title, we will help you through the process of getting your property’s title and help you avoid the pitfalls of hidden costs while you buy and sell your home. We are also well trained in identifying any and all errors in public records and helping you resolve them. We specialize in real estate title insurance in both Maryland and Washington, D.C., and we will perform an expert title search, check through all past documentation, and examine records for any fraud or forgery. For more information on how we can get you into the home of your dreams, contact us online or give us a call at (410) 884-1160. To get more updates on housing markets and how to get into your home, follow us on Facebook, Twitter, LinkedIn, and Google+.

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