Escrow Thursday: Title Insurance

Title Insurance

Title insurance is an insurance policy that you purchase that will cover you during the transfer of title during a sale or purchase of your home or property. It is a policy that will pay for loss of title transfer due to a lien on the property. There are a lot of issues that can cloud title, making it non-transferable. These issues can occur with or without your knowledge. A lien can be placed on your property by mistake and then the transfer of title will not take place until the lien is cleared. There may be a lien on the property due to a violation of the Covenants, Conditions and Restrictions you have in the neighborhood that you live in. Whatever the reason for the cloud, it is always a good idea to have title insurance to cover against any loss due to the inability to transfer title.

This entry was posted in Escrow Information, First Time Home Buyer. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *