Simply stated, the purpose of Title Insurance is to protect the most important investment most people will ever make—their home. Title Insurance plays a major role in making home ownership safe and secure, providing protection against a number of title defects that could jeopardize an individual’s interest in the property they have just purchased.
- Names and phone numbers of Realtors®
- Contract For Sale and Purchase
- Buyer’s and Seller’s full names, addresses, and telephone numbers
- Mortgage lender, name of loan officer, and telephone numbe
- Seller’s current mortgage lender and loan number
- A copy of the prior title policy (if available)
- Homeowners’ Association name and address
Title Search is a document history and detailed report of all transactions recorded in the public records affecting a specific property.
Title Defect is a problem with the title which prevents the title from being marketable. Examples of title defects are prepaid liens, such as tax liens, code enforcement board liens, and judgment liens. Title defects also include a deed or mortgage that was improperly executed; an error in the legal description; an encroachment, easement, or right of way. Title defects must be corrected before good title can be transferred by the Seller.