Learning Center
What Is
Title Insurance
When you buy a home, you’re buying more than the house and the land. You’re also buying the legal right to own it, which is called the title. Title insurance protects that ownership.
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Title insurance is a policy that protects you from financial loss caused by problems with a property’s ownership history that weren’t discovered before you bought it. These might include unpaid debts tied to the property, errors in public records, or someone else claiming a right to your home.
Before closing, a title company searches public records to find and resolve issues. But some problems stay hidden even after a careful search, such as a forged signature on an old deed or an heir no one knew about. Title insurance covers you if one of those problems surfaces later.
There are two types of policies. A lender’s policy protects the bank or mortgage company’s investment and is usually required when you take out a loan. An owner’s policy protects you, the buyer, and your equity in the home.
The Risks of Going Without It
Without an owner’s policy, you carry the full cost of any title problem yourself. That can include:
- Unpaid liens or debts. A previous owner’s unpaid taxes, contractor bills, or loans can stay attached to the property, and you may be responsible for paying them.
- Ownership disputes. A long-lost heir, a former spouse, or another party could claim a right to your property.
- Fraud and forgery. If a past sale involved a forged signature or false identity, your ownership could be challenged.
- Recording errors. Mistakes in public records, such as incorrect legal descriptions or boundary errors, can create costly legal problems.
- Legal expenses. Even if a claim against your home turns out to be invalid, defending your ownership in court can be expensive.
Without an owner’s policy, you carry the full cost of any title problem yourself. That can include:
The Benefits of Title Insurance
- Protection for your investment. Your home is likely one of the largest purchases you’ll make. An owner’s policy helps protect the money you’ve put into it.
- One-time cost. You pay for an owner’s policy once, at closing. There are no monthly or yearly premiums.
- Long-lasting coverage. Your protection continues for as long as you or your heirs own the property.
- Legal defense included. If someone challenges your ownership in a covered claim, your title insurer handles the cost of defending it.
- Peace of mind. You can settle into your new home knowing that problems from the past won’t become your burden.
We're Here to Help
At Access Title, we work to find and resolve title issues before closing, so your purchase goes smoothly from start to finish. Have questions about title insurance or which policy is right for you? Contact our team. We’re happy to walk you through it.