Title Insurance = Peace of Mind

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The biggest investment you will make in your life will probably be purchasing a home. So before you sign on the dotted line, you must be certain that the "title" of the property is free of other claims.

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

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 insurance company searches the title history of the property. Through its research, the title insurance company can usually identify any title problems that may arise 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 cover what the title insurance company is responsible for. Title insurance usually covers:

• 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 and will cost you nothing.
• 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 misses them.

At First Southeast Mortgage Corporation, we answer questions about this process every day. Call us: 954.920.9799.