Greetings friends and clients! We at Audubon Title hope to use this blog to provide helpful and sometimes entertaining nuggets of useful information about real estate. What is title insurance and what do we do?
We handle the closing process. Typically your realtor or mortgage broker will recommend a title company but it’s important to remember that you can always choose your own title company. In laymen’s terms, title insurance is the legal guaranty that you own your property.
The official definition is Title insurance is indemnity insurance against financial loss from defects in title to real property and from the invalidity or unenforceability of mortgage liens. Whoa…. Basically it’s important to make sure that your investment is safe and secure.
Did you know that Title insurance is principally a product developed and sold in the United States as a result of the comparative deficiency of the U.S. land records laws. It 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. In the coming days, we will deal with issues that may come up during the closing process and also highlight title curative issues and ways to avoid them.