What Is Title?
CommonGround Abstract Title Insurance Experts
Protecting Your Investment
Title insurance is a specialized insurance policy that protects property buyers and mortgage lenders against problems with a title when there is a transfer of property ownership. It was developed to assist all parties in the real estate transaction to determine their rights and interests, while ensuring that the transfer of property not only happens smoothly, promptly and securely, but that it is also defect-free.
Title insurance is a safeguard against loss and lenders will almost always require title insurance on real estate purchases as a condition of issuing a loan.
It is different from other insurance because it emphasizes risk prevention to avoid hidden claims or defects, which may include a forgery in the chain of title, a claim that is made by a previously unknown relative of a former owner, or a mistake in the records that is not found in the search, among other issues.
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