Title Insurance = Peace of Mind

Shopping for a mortgage loan? We will be glad to help! Call us at 630-717-3600. Ready to begin? Apply Here.

The biggest investment you will make in your life will likely be the purchase of a home. So before you sign on the dotted line, you must be certain that the "title" of the property is free of other claims.

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

You pay the title 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 searches the property's title history. Through its research, the title company can almost always identify any title problems that may arise and clear up these problems 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 title insurance owner's policy will describe the property and outline any recorded limitations on your ownership. It will also cover what the title 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 insurance company will defend your title and will cost you nothing.
  • Defective title — "Defective title" covers any number of problems with the title to your home. It can even include a "contested title". 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 complicated problems define "Defective title" or "Clouded Title." The title company will discover these problems, or should they miss them, insure your loss up to the amount of the policy.

Ashok Lakshmanan can answer questions about title insurance and many others. Call us at 630-717-3600.


English Spanish