We will perform the title search to assure that the buyer will be purchasing valid title. The purpose of the search is to verify the seller's right to transfer ownership and to discover any defects or encumbrances on the title. These records include deeds, court records, property and name indexes and many other public documents. Unlike other forms of insurance that focus on possible future events and charge an annual premium, the American Land Title Association explains that title insurance is a safeguard against loss arising from hazards and defects that already exist in the title.Ī title search is a detailed examination of the public records concerning a property. It also pays for any legal fees involved in defending a claim to the title. Owner's title insurance protects the buyer should a problem arise with the title that was not uncovered during the title search.

Owner's title insurance is purchased as a one-time fee at closing and lasts as long as you or your heirs have an interest in the property.

The coverage decreases each year and disappears as the loan is paid in full. The Loan Policy is usually based on the dollar amount of your loan and protects the lender's interests in the property against a problem with the title. There are two types of title insurance: Lenders title insurance, a/k/a “Loan Policy”, and Owner's title insurance.

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