Title Insurance

Title Insurance

Having a clear title is important when purchasing a home and title insurance may be your most important investment in legal protection about title defects that could result in costly claims or even loss of property.

300 Years of Experience . . .

Whether you are buying, selling, or refinancing a property, Red Door Title can take care of your real estate title needs. Our attorneys and closing staff offer over 100 years of experience to bring you the best closing service in the area.

Title insurance protects against problems affecting the title to your home. There are two types of title insurance – a Lender’s Policy and an Owner’s Policy. If you obtain a loan (even a refinance of your current home) the Lender will require that you purchase a Lender’s Title Policy to protect their investment in your property. This coverage protects only the Lender against defects in title in the event the Lender acquires an interest in your property through foreclosure.

The Lender’s Policy does not cover your equity in the property and will not pay your legal expenses if there is a problem. Only an Owner’s Title Insurance Policy will protect you, the property owner, from defects in title that could have a significant impact on your interest in the property and its marketability.

Should a covered title issue arise, the title insurance company will hire counsel and pay the cost of defense, even if the lawsuit has no merit. If you incur a loss as a result of the suit, you will be covered up to the value of the policy, which is usually the purchase price of your property.

If you are not financing the purchase of your home, then an Owner’s Policy becomes that much more valuable.

Far less than expensive lawsuits and legal advice, the one time Owner’s Title Insurance premium is simply the best protection for you and your heirs against the unforeseen.

An Owner’s Policy insures against title defects that are not covered by an attorney’s certification of title. An attorney’s certification of title is an opinion of the quality of the “record” title based on a review of the public records at the registries of deeds and probate. However, the certifying attorney may not be responsible for numerous title defects that would not be found, despite the most thorough search of public records such as those hidden risks listed above.

An Owner’s Policy is your assurance that your property is protected from any title problems now and down the road.