Title Insurance for Your Peace of Mind

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The biggest investment you will make in your lifetime will probably be the purchase of a home. So before you close, you need to know that nobody else can claim the property.

Determining that your rights and interests to the property are clear is the business of a title company.

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 searches the title history of the property. 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 owner's policy will describe the property and outline any recorded limitations on your ownership. It will also cover what the title company is responsible for. Typically your title insurance will protect you in the following cases:

• Contested title — This usually happens when someone who owned or even lived in the home before you claims to still hold an interest. If this happens, the title company will defend the title at no expense to you.
• Defective title — "Defective title" covers any number of problems with the title to your home. It can even include a "contested title". Defects are rare, but they can be very difficult, making the property inaccessible, unbuildable, or unsaleable. Any number of other complicated problems define "Defective title." The title insurance policy will protect you from these errors if the title company doesn't discover them.

At The Mortgage Exchange Service LLC, we answer questions about this process every day. Call us: 703.255-5810.