What is Title Insurance?
Capital Title offers quality title insurance, and we’re ready to serve you. A title insurance policy is a contract between you and Capital Title insuring you against a loss in the event a title defect occurs resulting from a claim against your ownership. If a claim is made against your property, title insurance will, in accordance with the terms of your policy, assure you of a legal defense, and pay all court costs and related fees. Also, if the claim proves valid, you will be reimbursed for your actual loss up to the face amount of the policy.
A title company will research public land records before closing in an effort to eliminate risk. Some documents that can present concerns include:
- deeds, wills, and trusts that contain improper wording or incorrect names
- outstanding mortgages and judgments, or a lien against the property because the seller has not paid his taxes
- pending legal action against the property that could affect a purchaser
For a one-time fee you and your heirs are protected against the following problems which might arise after purchasing a property:
- mistakes in public records
- undisclosed heirs
For more information, visit Home Closing 101, a website provided by the American Land Title Association (ALTA).