Title Insurance Protects Your Biggest Investment

In the market for a new mortgage loan? We'll be glad to discuss your mortgage needs! Call us at 630-717-3600. Ready to begin? Apply Now.

Buying a home will likely be the biggest investment you make in your life. Before you close, you will want to know that no individual or entity has a claim or lien to the property.

A title company ensures that your new property won't surprise you with encumbrances and other legal obstacles.

You pay the title insurance company a single premium which includes the cost of verifying clear title and covers you in case some fault is later discovered in the title.

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

Because Real Estate Law is so complicated, you need an expert to make sure that all previous transactions have been correct, so you don't end up with legal problems or a problem selling your property. Your owner's policy will describe the property and outline the limitations on your ownership. It will also set forth the title insurance company's responsibilities should any claim covered by the policy terms arise. Title insurance covers the following:

  • Contested title — Someone, usually a previous owner or occupant, claims they still own the property or have not given up their claim. If this happens, the title company will defend your title and will cost you nothing.
  • Defective title — This is a general term for a legal problem with the title that cannot be corrected and includes "contested title" above. Defects are rare, but they can be very difficult, making the property inaccessible, unbuildable, or unsaleable. Many other complicated problems define "Defective title" or "Clouded Title." The title insurance policy will protect you from these errors if the title company misses them.

At Ashok Lakshmanan, we answer questions about this process every day. Call us: 630-717-3600.


English Spanish