Frequent Questions about Title

Doesn't the Lender's Title Insurance protect me?

No, if there is a failure of the title, you have no protection and would lose both your property and your equity in the property. You could also incur legal fees and any tax penalties assessed against your property. Your lender would be the only one protected by Lender's Title Insurance.

When acquiring property, it's a good idea for the buyer to get Owner's Title Insurance on the new property. If someone initiates a claim against your title, Owner's Title Insurance provides you with a legal defense, including attorney's fees, as provided in your policy. If your title should fail, you will be reimbursed for the equity in your home up to the face amount of your policy.

To obtain this coverage, you pay a one-time premium at Closing. There are no recurring premiums. Also, the coverage protects you and your heirs and continues even after you sell the property.

What if my attorney reviews the Title?

Real estate titles have hazards that even the most competent attorney can overlook, including hidden defects such as improper indexing of records, forgery of documents, unknown or missing heirs, and more. Plus, your attorney or Closing agent cannot be held liable should you suffer financial loss because your title is found defective - only the owner is liable.

The most accurate title examination may not discover some hidden defects. That's why it's important to have your investment in your home protected by Owner's Title insurance.