Someone Stole Your House?!? | Why You Need Title Insurance

Before answering "what is title insurance," it might be best to first answer, "What is Title?" "Title" is the ownership in real property. Among other things, it means that you have the legal right to possess, occupy, peacefully enjoy, and sell your property without interference from others, subject only to restrictions imposed by governmental authorities or previous owners. In most cases, title is transferred by deed which is recorded in the land records of the county in which the property is located. Generally, when property is sold, an attorney for the Buyer or a title examiner goes to the record room and searches the land records for any title defects. A title defect is anything in the entire history of ownership of a piece of real estate which may encumber the owner's rights under the title. A title defect may cause the owner of the real estate property to lose all or part of his land & appurtenances to a superior ownership interest or claim of another. This is the type of loss against which title insurance protects.