What is Title Insurance?

Published On: December 6, 2015|Categories: Blog, Buyers|

what is title insurance tampa bay homes for sale

If you’re like most buyers, you know that you need title insurance. But what is it, and why?

Title Insurance Basics

Unlike car insurance, homeowners insurance and life insurance, which all cover you for things that could happen in the future, title insurance covers you for things that may have happened in the past.

For example, title insurance helps protect you against other people making claims on your property – the property that you have purchased and paid for.

Title insurance costs you a one time premium; you don’t have to continue paying for a month after month in order to receive the full benefits of its protection.

Title Insurance Protections

Because title insurance protects you from other people making claims on your property, it can be an invaluable asset. Remember, title insurance isn’t the same as your loan policy or mortgage policy. That belongs to the lender, and it only protects the lender against losses due to title defects.

Title insurance for home buyers can protect you against:

  • Errors in tax records
  • Adverse possession
  • Forgeries
  • Undisclosed heirs
  • Deeds by minors
  • Impersonation of true landowners
  • False affidavits of death or heirship
  • Fraud
  • Probate matters

All of these things could affect your ownership of your new home. If you fail to get title insurance, someone could make a claim against your property – and worse, they could win.

Title insurance agents conduct in depth research to ensure that no one else can make a claim to your home. When you have this type of insurance, you’ll be defended against all covered claims.

Do You Have More Questions About Buying in Tampa Bay?

Feel free to call us at 727-584-8480 or 813-961-6000. You can also contact us online at any time if you have more questions about buying a home in the Tampa Bay area.