Title Insurance Protects Your Biggest Investment

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Purchasing a home is probably the largest investment you will ever make. Before closing on the house, you'll want to know that no individual or entity has a lien or claim to the property.

A title company does all the research to insure that a property has clear title. Making sure that a property is clear of all legal encumbrances is the job of a title insurance company.

For a modest, one-time title insurance premium, you will receive continuous title insurance protection equal to the purchase price of the property or its current market value.

The title insurance company searches the property's title history. Through its research, the title insurance company can almost always identify any title problems and clear up these problems prior to closing.

Real Estate law is extraordinarily complicated. Title companies make sure that all the T's are crossed and all the I's are dotted so you don't end up with a clouded title and legal problems. Your title insurance owner's policy will describe the property and outline the limitations on your ownership. It will also cover what the title insurance company is responsible for. Typically your title insurance will protect you in the following cases:

• Contested title — Someone, usually a previous owner or occupant, claims they still own the property or have not given up their claim. If this happens, the title company will defend your title at no expense to you.
• Defective title — This is a general term for a legal problem with the title that cannot be corrected and includes "contested title" above. Defects are rare, but they can be very difficult, making the property inaccessible, unbuildable, or unsaleable. Many other complex problems define "Defective title" or "Clouded Title." The title insurance policy will protect you from these errors if the title company misses them.

At Reliance Mortgage Service, Inc, we answer questions about this process every day. Call us: 562 320-0510.