For most people, a home is one of the biggest and most important investments you’ll ever make. In fact, to buy with utter confidence is crucial. As a result, getting a title insurance policy is a wonderful way to protect your ownership rights in the property you just purchased. To help understand how an owner’s title insurance policy actually works, here are answers to the most common questions people usually have when it comes to title insurance.
What Exactly Is A Title?
The phrase we’ve constantly heard but never really understood? Title. Title is your right to own or use your property. In fact, title also establishes any potential limitations on those established rights.
What Exactly Is A Title Search?
A title search is basically just an early step in the actual homebuying process. However, if any issues are uncovered through a title search- it can be costly to fix. In fact, if a title issue is discovered, most often it’s your title professional who will take of it on your behalf. That being said, after the title search is ultimately complete, the title company will then provide a title insurance policy.
What Is Title Insurance?
If you plan on buying a home, you’ll want to know what title insurance is and how it protects you. In fact, title insurance is just a policy that protects your investment and property rights. There are two different types: an owner’s policy and a lender’s policy. An owner’s policy will protect you property rights while a lender’s policy will protect the interests of the bank when you get a mortgage out on your home.
At the end of the day, there is something that all homeowners need to know- title insurance is crucial. To protect your interest rights in the home you just purchased, you’ll really want to make sure that you have an owner’s policy.
A Title Company You Can Trust: Colony Title
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 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+.
Tags: Title Insurance