Why Title Insurance?

The process of conducting an actual closing and the issuance of a title insurance policy insures your ability to later sell the property and receive its fair market value. It is only through a careful title search that it can be determined that the property is free and clear of all encumbrances and other matters which may affect your legal ownership. The issuance of an owners’ title insurance policy, for a one time reasonable premium, insures that your title is "marketable" and you will stand protected from loss or damage as a result of any title defects. A mortgagee policy provides similar protection to your lender.

The actual issuance of the title insurance policy is one of the final steps in the "closing" process. Prior to that time, the property title must be searched and examined for any outstanding liens and encumbrances which may adversely impact upon your interest or your lender’s mortgage. The final papers and figures must be prepared. A "closing" will then be arranged where all parties meet to finalize the transaction. Thereafter, certain papers must be recorded in the public records so that the transaction is properly documented.