What Is Title Insurance?
What Is Title Insurance?
45 Years of Experience in Jefferson County | Locally Owned
45 Years of Experience in Jefferson County Locally Owned
We Will Help You Understand Title Insurance
The professionals at Jefferson County Land Title will help you understand what title insurance is and how it can benefit you. If you're a first-time home buyer, there are several risks you should be aware of at the time of closing.
We can provide insurance for the title of your property against any of several possible common defects. Call us for more information.
The Many Benefits of Title Insurance
What Is Title?
Title is your ownership rights to your property. Yes, "rights" plural. Think of the title to your property as a bundle of sticks. Ideally, you want to have fee-simple ownership, which would mean you owned all of the sticks in the bundle, including possession of the land, water and mineral rights, to name a few.
What Is Title Insurance?
Title insurance is an insurance policy that protects your investment and property rights in the event that someone else tries to make legal claims to them. We offer coverage to two different parties at the time of closing: the new owner and the lender.
An owner's policy is purchased by you, the buyer. While it is your choice, purchasing an owner's title insurance policy is the best way to protect your interests. It protects you, the property owner, as well as your trustees, inheritors, and beneficiaries.
The lender's policy is generally required by the lender involved to protect their interests in the property while they hold the mortgage and can either be paid for by the buyer or the seller. Only the lender is covered by the lender's policy.
Why Purchase Owner's Title Insurance?
A home is the largest investment you will make in your life. Owner's title insurance is the smart option that protects your property from legal claims. It's a ONE-TIME fee that covers you and your heirs as long as you own your home. The owner's policy also covers potential legal fees for settling claims against your ownership rights.
What Does the Owner's Title Insurance Cover?
Under the owner's title insurance policy, you are protected against any unforeseeable errors in the title. Common errors include:
- Forgery: Making a false document; for example, the seller misrepresents the identity of the person who signed the title.
- Fraud: Deception to achieve unfair gain; for example, someone steals your identity and either sells your house without your knowledge or consent or takes out a second mortgage on the property and walks away with the money.
- Human error: Inconsistent paperwork and historical records; for example, an unforeseeable discrepancy in the property or fence line can cause confusion in tracking the title history.
How Long Are You Covered?
Your owner's insurance policy lasts as long as you or your heirs own the property.
Get the best professional service from our five licensed and knowledgeable title agents.
Call 812-265-3030
"These folks are wonderful. I HIT A THREE-POINTER working with them. Three great closings in the last year. Friendly, proactive and everything you expect with great customer service!"
Jerry B. Wade, Facebook review