Protecting Ownership Rights
There is nothing like the American dream of homeownership, and there is one group whose purpose is to protect your right to the ownership of real property, the title insurance industry. While most homeowners have title insurance protection, few know much about it. Considering the fact the entire reason the title insurance industry exists is to protect your ownership to the largest purchase most individuals will likely ever make in their lives, it may be helpful to learn a little more about it.
Title insurance is not like most other types of insurance you pay for it just once when you're buying a home and its coverage continues as long as you or your heirs own the property, whether that period is five years or 105! But what really makes title insurance different is it's as much a process as it is a product. The product, the title insurance policy, stays with you to protect you after you purchase your home. The process that leads to that policy is detailed, intricate and often intense. Depending on where you live, title work may be performed by a title insurer, title agent or an attorney.