Title Insurance for Your Peace of Mind

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Purchasing a home is probably the single largest investment you will make in your lifetime. So before you close, you need to know that nobody else can claim the property.

Determining that your rights and interests to the property are clear is the business of a title insurance company.

For a modest, one-time title insurance premium, you will receive continuous title insurance protection equal to the purchase price of the property or its current market value.

The title company searches the property's title history. Through its research, the title insurance company can usually identify any title problems and clear up these problems prior to closing.

Because Real Estate Law is so complex, you need an expert to make sure that all previous transactions have been correct, so you don't end up with legal problems or a problem selling your property. Your owner's policy will describe the property and outline any recorded limitations on your ownership. It will also cover what the title company is responsible for. Title insurance covers the following:

• Contested title — Someone, usually a previous owner or occupant, claims they still own the property or have not given up their claim. If this happens, the title company will defend your title and will cost you nothing.
• Defective title — This is a general term for a legal problem with the title that cannot be corrected and includes "contested title" above. Defects are rare, but they can be very difficult, making the property inaccessible, unbuildable, or unsaleable. Many other complex problems define "Defective title." The title insurance company will discover these title problems, or should they miss them, protect you from financial loss - up to the amount of the policy.

At VITEK MORTGAGE GROUP, we answer questions about this process every day. Give us a call: 800-530-9421.