Title Insurance Protects Your Investment

Searching for mortgage advice? We'll be glad to talk about our many mortgage solutions! Give us a call today at (215)741-3131. Ready to begin? Apply Now.

The biggest investment you will make in your lifetime will likely be the purchase of a home. So before you commit to the transaction, you want to be sure that the property's title is clear of other claims.

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

You pay the title company a single premium which includes the cost of verifying clear title and covers you in case some fault is later discovered in the title.

The title company performs an extensive search on the title history of the property. Through its research, the title company can almost always identify any title problems and clear up these problems before you close on the property.

Because Real Estate Law is so complicated, 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 with the title to your property. Your owner's policy will describe the property and outline the limitations on your ownership. It will also set forth the title insurance company's responsibilities should any claim covered by the policy terms arise. Typically your title insurance will protect you in the following cases:

  • Contested title — Someone, usually a previous owner or occupant, claims they still own the property or have not given up their claim. In this case, the title insurance company will defend the title and will cost you nothing.
  • Defective title — "Defective title" covers any number of problems with the title to your home. It can even include a "contested title". Other examples of title defects include problems with legal access to the property, easements that make the property less usable, unusable, or unsaleable. Many other complicated problems define "Defective title" or "Clouded Title." The title insurance company will discover these title problems, or should they miss them, insure your loss up to the amount of the policy.

At Net Equity Financial Mortgage, we answer questions about this process every day. Call us: (215)741-3131.

Get a Refinance Quote

Looking to refinance your home? Fill out the following form to get a fast quote from us.

Contact Info
Property Information
Mortgage Information
Questions