Title Insurance for Your Peace of Mind

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Purchasing a home is probably the single biggest investment you will make in your lifetime. So before you close, you need to know that no one else can claim the property.

A title company ensures that your new property doesn't carry expensive encumbrances and other legal obstacles.

For a modest, one-time title insurance premium, you will receive continuous title insurance protection equal to the purchase price of the property or its current market value.

The title company searches the title history of the property. The title insurance company can usually 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 title insurance owner's policy will describe the property and outline the limitations on your ownership. It will also set forth the title insurance company's responsibilities should any claim covered by the policy terms arise. Title insurance covers the following:

• Contested title — Someone, usually a previous owner or occupant, claims they still own the property or have not given up their claim. If this happens, the title company will defend your 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 complex problems define "Defective title." The title insurance company will discover these title problems, or if they miss them, protect you from financial loss - up to the amount of the policy.

First Southeast Mortgage Corporation can walk you through the pitfalls of getting a mortgage. Give us a call at 954.920.9799.