Title Insurance is an insurance policy on your home that ensures that your record of ownership, known as your title, is the same as when you purchased the property. It can only be facilitated through a lawyer and currently is a one time premium payment (to the title insurance company) that gives you protection for as long as you own your home.

Generally speaking, when purchasing a home, a title insurance policy will protect you up to 200% of the purchase price against mortgage fraud and title fraud. Should the Property increase in value by (approximately) twice its current value, you should speak to a lawyer about facilitating another title insurance policy to further protect your interest.

If you are interested in obtaining an Existing Homeowner's Policy, a title insurance policy will protect you up to 200% of the most recently assessed value of the property.

In a nutshell, title insurance will insure your property against title fraud or mortgage fraud on a go forward basis to ensure that if you fall victim to title fraud or mortgage fraud, you will be indemnified accordingly, although there are exceptions to this.

Title fraud occurs when a thief/fraudster assumes your identity and sells your property from underneath you to a legitimate buyer and absconds with the funds from the sale.

Mortgage fraud occurs when a thief/fraudster assumes your identity and takes out a mortgage on your property and absconds with the mortgage funds. Click on my blog here for a great article on mortgage fraud.

There are many different title insurers available, all generally giving you the same protection. To see a sampling of the different title insurance companies available, click here.

If you are interested in obtaining a title insurance policy, please call to set up an appointment to discuss further.