A title insurance policy assures that the transfer of ownership is smoothly completed, that your rights and interests in a property are as you expect them to be, and that you receive protection from future claims against the property you are purchasing. It is the most effective, and least expensive way to protect ownership rights.
The current owner's rights, which often involve family and heirs, may be unclear, and there may be other parties, such as public utilities, lenders or private contractors, who believe they also have rights to a property. These interests can impact and limit the "title" of any seller.
Before your real estate transaction closes, the title company performs an extensive search of all recorded property. These records are then examined by experienced title officers who are trained to determine just how any recorded document pertaining to the subject property may affect the current status of ownership. The title officer orders a Preliminary Title Report to be issued to all principals for review. This report includes information about matters such as taxes, trust deeds, easements, and other encumbrances. This thorough examination generally allows any pending title problems to be identified and cleared prior to the purchase of the property.
My Professionals can provide title insurance as part of his services in examining title and providing a title opinion.
