Title Insurance Protects Your Biggest Investment

Mortgage Direct Inc. can walk you through the pitfalls of getting a mortgage. Give us a call: 1-844-MBROKER (1-844-627-6537).

Purchasing a home is likely the biggest investment you will make in your lifetime. So before you close, you need to be sure that that no one else can claim the property.

A title insurance company ensures that your new property won't surprise you with encumbrances and other legal obstacles.

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 searches the title history of the property. Through its research, the title insurance company can usually find any title problems that may arise and have these problems cleared-up before you close on the property.

Because Real Estate Law is so complex, 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 any recorded 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 — This usually happens when someone who owned or even lived in the home before you claims to still hold an interest. If this happens, the title insurance company will defend the title at no expense to you.
  • Defective title — This is a general term for a legal problem with the title that cannot be corrected and includes "contested title" above. 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 complex problems define "Defective title." The title insurance company will find these title problems, or should they miss them, protect you from financial loss - up to the amount of the policy.
In the market for a new mortgage? We can assist you! Call us at 1-844-MBROKER (1-844-627-6537). Want to get started? Apply Now.

Got a Question?

Do you have a question? We can help. Simply fill out the form below and we'll contact you with the answer, with no obligation to you. We guarantee your privacy.

Your Information
Your Question