For the majority of American’s, the purchase of a home represents the largest investment most families will ever make. There is a great deal of confidence that comes with an owner’s title insurance policy. It’s a great way to get your property covered from legal claims. 
What is title?
Title is your legal right to own or use the property you purchase or own. It also establishes any limitations on those rights.
What is a title search?
A title search is the first step in the homebuying process, which investigates the available public records, for the purpose of uncovering issues that might impact the rights to the property. Should a title issue is discovered, often described as a defect, the title agency should be able to take care of the matter without a buyer becoming involved. Upon the completion of the title search, the title company can provide (issue) a title insurance policy.
What is title insurance?
When buying a home, the title insurance policy is what protects the investment and property rights of the purchase
There are two different types of title insurance: an owner’s policy and a lender’s policy.
- The owner’s policy: the way to protect the property rights.
- The lender’s policy: usually required by the lender and only protects the lender’s financial interests.
Examples of title issues that are covered:
- Outstanding mortgages and judgments, or liens against the property due to unpaid taxes by the seller
- Unknown pending legal actions against the property that might affect the owner
- The claim by unknown heirs of a prior owner claiming ownership of the property
Title policies also include:
- Forgeries, as in the case of misrepresentations of a seller of the property
- Documentation or clerical errors in paperwork and back or historical records
- Fraud for the purposes of achieving unfair gain through deception
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