Buying a home may be the biggest investment you’ll ever make. Title insurance will protect your real property.

When you purchase title insurance you will be given an owner’s policy. In this policy your title insurer assumes responsibility for all legal expenses to defend the title to your property if it’s ever challenged.

Title insurance is one of those things that you don’t realize the value of until you need it. Before you close, a title company will conduct a thirty year search on the property to determine whether or not any liens or judgments are attached to the property. A typical lien would include any mortgages the seller may have that need to be paid off, unpaid taxes, or personal judgments.

A title company’s responsibility is to ensure that all of these issues are resolved prior to closing. If something is missed, that is where the importance of title insurance comes in. Title insurance protects against the possibility of future loss should your legal rights to your property be challenged. For a one-time premium you pay at closing, you are issued an owner’s policy giving you the assurance that
your new home is protected. Your owner’s policy remains in force as long as you own the property.

When you buy your next home, insist on using a reputable title company to ensure your peace of mind! A complete list of title companies that are members of the Tallahassee Board of REALTORS® can be found online at www.TBRnet.org under “Affiliate Services Directory.”

Written by: Allison Cartledge, Land America-Lawyers Title