|
Convenient Location Professional Environment Personalized Service Complimentary Pick-up and Delivery Complimentary Condo Documents |
Frequently Asked Questions 1. What is a Title? "Title" is the foundation of property ownership. It means that you have a legal right to possess property and use it within the restrictions imposed by authorities or limitations on its use - superimposed on the basic right to possession by previous owners. 2. What is Title Insurance? Title insurance protects against loss of value from hazards and defects that may exist in the title. If you were insured and your right to title is challenged, you could lose insignificant money defending yourself or you could lose your home. Your mortgage lender will require a loan policy of title insurance to protect their interest in the value of your property and a homeowner should purchase an owner's policy for the very same reason. 3. Do I need title insurance? Yes! Title insurance is a means of protecting yourself from financial loss in the event that problems develop regarding the rights to ownership of your property. There may be hidden title defects that even the most careful title search will not reveal. In addition to protection from financial loss, title insurance pays the cost of defending against any covered claim. |
