Title Insurance = Peace of Mind
Alpine Capital Mortgage can walk you through the pitfalls of getting a mortgage. Give us a call: (208) 726-5466.
Buying a home may be the biggest investment you make in your life. Before you close, you will want to know that no other individual or entity has a right, claim or lien to the property.
A title insurance company ensures that your new property is free of encumbrances and other legal obstacles.
For a modest, one-time title insurance premium, you will receive continuous title insurance protection equal to the purchase price of the property or its current market value.
The title insurance company searches the property's title history. Through its research, the title insurance company can usually identify any title problems that may arise and clear up these problems prior to closing.
Because Real Estate Law is so complex, you need an expert to make sure that all previous transactions have been correct, so you don't end up with legal problems or a problem with the title to your property. Your title insurance owner's policy will describe the property and outline any recorded limitations on your ownership. It will also cover what the title insurance company is responsible for. Title insurance usually covers:
- Contested title — This usually happens when someone who owned or even lived in the home before you claims to still hold an interest. If this happens, the title insurance company will defend the title and will cost you nothing.
- Defective title — "Defective title" covers any number of problems with the title to your home. It can even include a "contested title". Defects are rare, but they can be very difficult, making the property inaccessible, unable to be built, or unsaleable. Many other complicated problems define "Defective title." The title company will discover these problems, or if they miss them, protect you from financial loss - up to the amount of the policy.
Are you looking for a mortgage loan? We'd be thrilled to talk about our mortgage offerings! Give us a call today at (208) 726-5466. Want to get started? Apply Online Now
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