Title Insurance for Your Peace of Mind

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Purchasing a home is likely the biggest investment you will make in your lifetime. So before you sign on the dotted line, you want to be sure that the "title" of the property is clear 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 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 company performs an extensive search on the title history of the property. Through its research, the title insurance company can almost always find any title problems and clear up these problems prior to closing.

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 with the title to your property. Your 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 covers the following:

  • Contested title — This usually happens when someone who owned or even lived in the home before you claims to still hold an interest. If this happens, 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". Defects are rare, but they can be very difficult, making the property inaccessible, unbuildable, or unsaleable. Any number of other complicated problems define "Defective title." The title insurance policy will protect you from these errors if the title company misses them.

Ashok Lakshmanan can walk you through the pitfalls of getting a mortgage. Call us at 630-717-3600.


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