Buying a home will likely be the largest investment you make in your lifetime. So before you commit to the transaction, you must be sure that the "title" of the property is free of any other claims.
A title insurance company ensures that your new property won't surprise you with encumbrances and other legal obstacles.
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 company can usually identify any title problems that may arise 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 the limitations on your ownership. It will also set forth the title company's responsibilities should any claim covered by the policy terms arise. Title insurance usually covers:
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