Title Insurance

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Title Insurance

Title insurance is an option for home buyer’s who seek additional protection when purchasing a home. Buyers can pay an insurance premium which will compensate them if there is a problem with the title including zoning problems or ownership issues. When they purchase title insurance, buyers will usually receive reduced legal and document searching costs.

When you buy a home, you are essentially buying the legal ownership, or the “title”, of a particular property. Lawyers perform a number of searches to ensure that buyers do in fact receive full legal title when they purchase homes. As an alternative to conducting all of these searches, the title insurance may be purchased for situations where there is little risk of any problems arising with the title to the property. The benefit of title insurance is the reduced cost for buyers arising from the elimination of a number of searches.

Title insurance policies can only be obtained through a lawyer and provide buyers with protection against risks such as zoning problems, identity theft, title fraud, work orders against the property, and problems that a survey would reveal.

The cost of title insurance varies with the value of the home and type of property. The cost of title insurance will be offset by reduced search fees. We can provide you with more information about this option and current pricing.