If you are purchasing a new home or refinancing your current home, title insurance is an important part of the transaction. Title insurance provides coverage against hidden defects, such as senility or competency on behalf of the seller, a forged signature on a deed, or a probate in process that discloses unknown heirs. A lender requires title insurance to protect them against any claims for any prior liens affecting the property such as other mortgages, property taxes or assessments. Having title insurance provides that extra peace of mind and a fence of security around your home.
Owning real estate is one of the most precious values of freedom enjoyed in this country. When you decide to buy a new home, you want to be sure the property will be yours and that no one else will have any liens, claims or encumbrances against your home other than your agreed to mortgage.