What is Title Insurance?

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title insuranceBuying a home a is a very big decision, not only because of the costs and expenses involved, but also because that will be where you and your family will be spending most (if not all) of your lives. That being said, you would want to take every proactive measure in ensuring that your home will not be taken away from you – not after you’ve paid for and moved in it.
There are many ways to protect your investment, and one of those is through a title insurance.
Title insurances help to protect your homes from any problems or claims that may arise after you bought the house or any time in the future. With a title insurance, you can prevent a myriad of headaches that usually comes along with buying a home.

For instance, it sometimes happens that people sell homes that they don’t actually own and were just left to them for care and maintenance while the real owner is out on a long visiting trip, sabbatical leave, or a business trip overseas. In the midst of all the excitement of finally owning a home, this is one instance that is often overlooked by many first time home buyers.
Aside from that, a person may not have the full and complete right to sell the house to you or anyone, such as in cases where a divorced wife will still need her estranged husband’s signature in order to complete the sale, the house being conjugal property. If you bought the house without the other’s consent, then he may come after you in court.
These are just some of the instances where a title insurance can be really helpful.

The title insurance will make sure that you don’t lose everything you have put into the house along with a lender’s policy and an owner’s policy. When a claim for the house is made by a party, the lender’s policy will help you to defend your right to the house in court. If the court unfortunately decides on the other party’s favor, then the owner’s policy will come in to cover your financial loses (you still lose the house though).

Our homes are more than just a shelter, they are the place we come home to after a long day at work, a place where our kids play and grow. Thus, it is only in our best interest to protect it by getting a title insurance.

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