The questions everyone
asks at the table.

What is a deed?

A deed is the evidence a person or entity has to show ownership of real property. But it’s possible someone other than the owner on the deed has a legal right to the property, a tenant living there with the owner’s permission, for example.

I’m about to purchase a house. Do I need title insurance?

Yes. Title insurance protects you from financial loss if problems develop with the rights to ownership of your property. There may be hidden title defects that even the most careful title search will not reveal, and beyond protecting against loss, title insurance may pay the cost of defending against a claim.

What can make a title defective?

Hidden problems that survive even a meticulous search of the public records, and may not surface for months or years after closing. The common ones:

• False impersonation of the true owner
• Forged deeds or releases; instruments executed under invalid or expired power of attorney
• Undisclosed or missing heirs; mistakes in recording legal documents
• Misinterpreted wills; deeds by persons of unsound mind
• Deeds signed by minors, or by persons supposedly single but in fact married
• Fraud; liens for unpaid estate, inheritance, income, or gift taxes

The lender requires title insurance. Isn’t that enough?

Not necessarily. A Lender’s Policy insures the financial institution only, not you, and the borrower typically pays for it. An Owner’s Policy protects the buyer from defects that existed before your policy’s issue date; if a valid claim is filed, it may cover both the loss up to the policy’s face amount and the full cost of defending your title.

How much does title insurance cost?

A one-time premium tied to the value of your home, typically less than a year of auto insurance, paid once at purchase, covering you for as long as you own the property.