Owning real estate is one of the most precious values of freedom in this country. You want the assurance that the property you are buying will be yours. Other than your mortgage holder, no one else should have any claims or restrictions against your home.
Title insurance eliminates any risks and losses caused by faults in title from an event that occurred before you owned the property.
Title insurance is different from other types of insurance in that it protects you, the insured, from a loss that may occur from matters or faults from the past. Other types of insurance such as auto, life or health cover you against losses that may occur in the future. Title insurance does not protect against any future faults.
Another difference is that you pay a one-time premium. A title insurance policy will protect you from risks or undiscovered interests.
1. The lender's policy
2. The homeowner's policy
False impersonation of the true owner of the property
by the seller or other persons previously in title
Forged deeds, releases and other documents
Deeds by persons of unsound mind
Deeds by minors
Invalid documents completed by an expired attorney
Invalid deeds delivered after the death of the grantor
Deeds by supposedly single persons but actually married
Fraud
