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Christine Herrera's Blog

By Christine Herrera | Agent in Austin, TX

Why Title Insurance is important

What is title? 

Title is your right to ownership and possession of your home or property.  Title insurance helps protect you from the problems that could affect your legal right to own your property.  The title company helps uncover and fix problems and defects that could cause you to lose rights to your property.

What happens if there is a problem?

The behind-the-scenes work of the title company promotes the efficient and secure transfer of real estate.  Title insurance does not guarantee that you will not have a problem, but it does give you assurance that the title company will be there to help fix the problem or to compensate you financially on covered claims.  Unlike other types of insurance, the title insurance premium is paid only once and lasts as long as you own the property.

Why is Title Insurance so important to you and your family?

A title policy is your assurance that the home you are buying is protected from covered title problems.  it is simply something you should have, so you can focus on all the other important issues that go with buying a home.

What, how&Why

Researching:  the title company searches, reviews, and insures titles to land to help protect homebuyers and mortgage lenders.  This determintes if the property os insurable and notifies the buyer.

Solving problems: the title company communicates with attorneys, surveyors, tax authorities and others to help cure title defects.  This helps to get the deal done and make the title insurable.

Bringing it together:  the title company acts as the central clearing house for activities related to closing the real estate transaction.  This gets necessary documents signed to transfer ownership and files the documents with the county.

Closing:  the title company coordinates and handles the closing to provide the parties with copies of relevant documents.  Thus, make arrangements for proper payments and distribution of funds and issues the title policies.

Sources AlamoTitle-Austin.com and TLTA.com

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