WHAT IS TITLE?
A title is right to own or use your property. Title also any limitations on those rights.
WHAT IS A TITLE SEARCH?
A title search is a standard part of the home buying process that is conducted to uncover issues that could prevent your right to the property. Your closing agent reviews public records to see if there are problems or defects that could cause you legal issues.
WHAT IS TITLE INSURANCE?
If you’re buying a home, title insurance is a policy that protects your investment and property rights. There are two different types of title insurance: owner’s policy and lender’s policy.
- An owner’s policy protects your property rights for as long as you own the home.
- A lender’s policy is usually required by the lender and protects only the lender’s financial interests. We recommend you ask an ALTA member how it’s handled in your area
WHY SHOULD I PURCHASE OWNER’S TITLE INSURANCE?
Purchasing owner’s title insurance is a smart decision because it’s the best way to protect your property from possible future claims.