Title Insurance = Peace of Mind

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Buying a home will likely be the largest investment you make in your lifetime. So before you close, you need to know that nobody else can claim the property.

Determining that your rights and interests to the property are clear is the business of a title insurance company.

For a modest, one-time title insurance premium, you will receive continuous title insurance protection equal to the purchase price of the property or its current market value.

The title company performs an extensive search on the title history of the property. The title company can usually identify any title problems that may arise and have these problems cleared-up before you close on the property.

Real Estate law is extraordinarily complicated. Title companies make sure that all the T's are crossed and all the I's are dotted so you don't end up with a clouded title and legal problems. Your title insurance owner's policy will describe the property and outline the limitations on your ownership. It will also cover what the title insurance company is responsible for. Title insurance usually covers:

• Contested title — This usually happens when someone who owned or even lived in the home before you claims to still hold an interest. In this case, the title company will defend the title at no expense to you.
• Defective title — This is a general term for a legal problem with the title that cannot be corrected and includes "contested title" above. Other examples of title defects include problems with legal access to the property, easements that make the property less usable, unusable, or unsaleable. Many other complex problems define "Defective title" or "Clouded Title." The title company will uncover these title problems, or should they miss them, protect you from financial loss - up to the amount of the policy.

TriState Mortgage Corporation (NMLS 76453) can answer questions about title insurance and many others. Call us: (203) 284-8022.