Do I NEED Title Insurance?

Lender’s Title Insurance is required if you need a mortgage.

Owner’s Title Insurance is not required (though it is still a good idea).

Lender’s Title Insurance is required because mortgage lenders require a certain amount of protection (equal to the loan) in case a title defect arises. As with mortgage insurance, it protects the lender but you pay the premium, which is a single-payment made upfront.

Unfortunately, a lender’s title insurance policy does not cover you, the homeowner. But you do have an option…Owner’s Title Insurance. It is a one-time premium that protects YOU from any title claims that may arise, such as fraud, forgery and filing errors.

Remember, homes go through several ownership changes and, as a result, any number of things can go wrong. These potential title problems include:

•    A forged signature in transferring title

•    Other title defects

•    Fraud

•    Unpaid real estate taxes

•    Other various liens

•    And much, much more!

Title insurance covers the insured party for any claims and legal fees that arise out of such problems.

How Colony Title Associates Can Help

As agents for a number of title insurance underwriters, we can issue title insurance as well as provide you with the information necessary to educate your client on the value of Owner’s insurance.

If you have any questions, please contact the Maryland real estate insurance experts at Colony Title Associates by calling 410 884-1160 or visit today!

About Colony Title Associates:

Founded in 1995, Colony Title Group handles in excess of 2000 real estate closings per year in the central Maryland area. The founder Tee Tillman has over 23 years 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 area.

Colony Title specializes in real estate title insurance, real estate settlement services, and real estate closings in Baltimore, Columbia, Maryland, Washington DC, and Virginia. Our staff consists of licensed Title Insurance Agents, Real Estate Agents, Settlement Processors, & Attorneys to handle all of your real estate needs.

You can also follow Colony Title on FacebookTwitter, and LinkedIn.


Questions About Title Insurance

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