The excitement that comes right after the purchase of a home is immediately followed with those mega to-do lists that you want to do to make the property yours. The lists can be daunting, but two pieces of paper that you should secure in a safe place are your title deed and your title insurance policy.
The title policy is often and easily misplaced. These documents, the title, title insurance policy and the homeowners insurance should be kept together. In the likelihood of some claim or lien against the title of your property, the last thing that you want to worry about is the location of the title insurance policy. 
The reason you want it handy is because in the case that someone says they own part of your property or money is owed or there are taxes due and so on, the title insurance company would be responsible to pay to clear your title to the property.
The policy goes into effect with the sale of the property and remains in full force and effect as long as you own your home.
So right now you should know where your title policy is. The title policy is given to you usually after the closing on the sale of your home, since that is when the title insurance policy premium is paid.
Typically the new owners will receive the title insurance policy in the mail a month or two after closing on your home.
The title policy typically has at least four pre-printed pages and two or three schedule pages, which include standard policy provisions, the legal description of the home and how it is titled, in addition to a listing of any liens, easements, restrictions or reservations of record. When you receive the policy, make sure that the names are spelled correctly and that the legal description is correct.
Without the protection of a title insurance policy, you are on your own. Without a title insurance policy you may be liable to foot the bill personally for all the legal fees or other costs that are necessary to make sure that the title to your home is clear.
It would be prudent to keep an original title insurance policy for every parcel of real estate currently owned or have sold within the past 15 years. If you are missing the policy, request a duplicate policy.
If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.
Counsellors Title Agency, www.counsellorstitle.net, founded in 1996, is one of New Jersey’s most respected title agencies, serving all 21 New Jersey counties with title insurance, clearing title, escrow, tidelands searches, and closing and settlement services for commercial or industrial properties, waterfront properties and marinas, condominiums, townhouses or residential single family homes. Counsellors Title also features its own Attorney Settlement Assistance Program™ [ASAP], which is an individual resource customized to fit the needs specifically of real estate attorneys, including, Documentation, Preparation, Disbursement of Funds, Attendance at Closing, HUD Preparation or Post-Closing Matters.