Residential Title insurance provides the assurance you need that the property you buy will truly be yours, legally and fully, until you decide to sell it. Other than the mortgage holder, Residential Title insurance guarantees that no one else will have any restrictions or claims on your
property, affording you peace of mind when it comes to buying and owning real estate.
A very thorough search of existing records about the property will be conducted by your title company before a Residential Title is issued. Such a careful search will most likely reveal that no defects or “clouds” against the title are present but, despite the expertise of a
professional title examiner, other title problems not discovered in the search, may crop up. Thus the vital need for Residential Title insurance protection to ensure you are covered from any risk or loss caused by a fault in the title that occurred before you were the owner.
Unlike other types of insurance that protect your property from problems in the future, Residential Title insurance protects you in hindsight –from unknown matters or events that occurred in the past. Residential Title insurance also protects you from parties that might have undiscovered interests in the property—unknown heirs,
unsatisfied lien holders, unrevealed creditors.
For a one-time payment, your property is protected by a Residential Title insurance policy that covers the entire history of your purchase and such protection remains in effect for as long as you own the property, whether that ownership lasts one year or five decades.
Ensuring that there are no nasty surprises are headed your way when buy property, Residential Title insurance assures you that your piece of The American Dream is protected.
For more information on Residential Title insurance, visit the American Land Title Association website.