Title Insurance is meant to protect an owner's or a lender's financial interest in real property against loss due to title defects, liens or other matters.
Title Insurance protects against:
False impersonation of the true owner of the property
Forged deed, release or wills
Undisclosed or missing heirs
Instruments executed under invalid or expired power of attorney
Mistakes in recording legal documents
There are two types of title insurance policies—owner and lender. Just as lenders require homeowner's insurance, nearly all lenders also require title insurance (lender policy) to protect their interest in the collateral of loans secured by real estate.
Buyers purchasing properties for cash or with a mortgage lender often want title insurance as well. A lender policy provides no coverage or benefit for the buyer/owner, so the decision to purchase an owner policy is independent of the lender's decision to require a lender policy.
Our title insurance is underwritten through Old Republic National Title Insurance Company, one of the oldest and most established title insurance companies in America, in addition to Fidelity.