Title insurance is a process that occurs with the end result being a title policy. Title insurance begins with a comprehensive search of public land records to determine if there are any liens or other encumbrances that are attached to the affecting real estate. An inspection is conducted by our title agent on behalf of our underwriter's to determine whether the property is insurable.
The examination of evidence is collected from multiple sources including federal, state, local records, court judgments, deeds, and tax records. This is intended to fully report all objections to the title. Not surprisingly, one in four title searches release different problems prior to closing.
Through the search and the examination, title problems are exposed so they can be corrected when possible. In spite of all the dedication that goes into a title search and examination, hidden threats can arise after closing, resulting in unpleasant and costly surprises. Some examples of threats include:
Title insurance offers financial security against these and other uncovered title threats. Having title insurance will assist with defensive actions against any possible attach on title- for you "the insured". Title insurance will either perfect the title or cover valid claims, all for a one-time charge at closing.