Title Insurance

What is Title Insurance?

Title Insurance is a policy that provides coverage for title related risks that are associated with a real estate transaction.

It is designed to remove many of the unknown and unpredictable risks that may arise with title from the home buyer to the title insurer.

These risks include fraud, forgery, encroachments and other issues that are not shown on a survey and may not be discovered until after the new owner has moved in.

Title Insurance also provides protection in the event of errors committed by the lawyer handling the transaction. The home owner will make a claim directly to the title insurance company. If the claim is covered, the insurer will pay to solve the problem or will pay the home owner directly up to the full amount of the insurance policy. If the case ends up in the courts, title insurance will usually pay for the court costs as well.

Title insurance also protects you as long as you (or your heirs) own the home. Coverage continues after you have moved into your home.

Where do I get Title Insurance?

Title Insurance is available through your Real Estate lawyer.

How much does it Cost?

Title Insurance for a typical home is approximately $200 and $170 for a Condominium. The premium is paid only once.