Think the protection of title insurance is only available when you are buying a home? If you currently own a home, a Platinum Title Insurance Policy for Existing Homeowners is available to protect you against challenges to your title. Check your records to ensure you have title insurance, and if you do not, give us a call.
 To find out about the Top Benefits of Title Insurance, Click here.
What is title insurance?
Title insurance is unlike any other kind of insurance. It is not house insurance which only protects the contents of your home or its structure and for which you have to pay a monthly or annual premium. Unlike house insurance, you only pay a one-time premium with no deductible.
Title insurance is distinctive in that it protects your ownership or title against losses incurred as a result of undetected or unknown title defects, for as long as you own your home. Even if you are the rightful owner of your home, there are instances such as real estate title fraud, when your title can come into question.
Why do I need title insurance?
Protect possibly your greatest investment – your home. Whether you are a new homeowner or if you have owned your home for years, title insurance keeps your home safely in your hands.
Title insurance protects you against losses as a result of title defects and claims against a property not uncovered in a title search. Title insurance provides protection against issues like unpaid liens, encroachment issues, construction liens, defects in title, costs arising from building code violations, as well as real estate title fraud.
If real estate title fraud occurs, the onus is on the homeowner to prove the crime and it can be very costly, financially and emotionally, to restore title. For a one-time premium, title insurance is one effective and inexpensive way to ensure your property is protected. It covers all legal expenses related to restoring a title and protects you for as long as you own your home.
What does "title" mean?
When you buy a home, you are buying the title to the property. It is sometimes also referred to as a deed. This means that you own the property and your lawyer registers you as the owner in the land registry system.
Having "good title" to your property is important because it protects your investment so that you will be able to sell your property in the future or obtain financing, such as a mortgage, against your home, if needed.
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