Title Information
Title Insurance
Protects lenders or homeowners against loss of their interest in
property due to legal defects in title. Title insurance may be issued to
a "mortgagee's title policy." Insurance benefits will be paid only to
the "named insured" in the title policy, so it is important that an
owner purchase an "owner's title policy", if he desires the protection
of title insurance.
Title Search or Examination
A check of the title records, generally at the local courthouse, to make
sure the buyer is purchasing a house from the legal owner and there are
no liens, overdue special assessments, or other claims or outstanding
restrictive covenants filed in the record, which would adversely affect
the marketability or value of title.
Title Policy Protects Against Surprises