Loudoun VA - Title Insurance for Home Buyers is a Must!

Loudoun VA Home Buyer Information

This post is for Loudoun County VA home buyers from Ellen Crawford Loudoun County VA Buyers Agents.  This is something you should do when buying a home.  There is a lot of truth to the statement "Owning a home is the biggest financial decision you will ever make!"  So why not protect it with a Title Insurance policy?  First of all, what is Title Insurance and why do you need it?  Title insurance is insurance coverage on the home that you purchased that in case there is any claims on the property via title or deed you are insured against losses.   Unlike a home owner's insurance that protects you against hazards like fire, storm damage, and personal injury to others...title insurance covers the security of your title to the property.  Title insurance 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. It can protect you from financial loss, possession of the property or loss of your equity via a lawsuit against title. 

There are two types of title insurance, lender, and buyer policies.  Each policy protects the title interests of the holder of that policy.   It will defend against a lawsuit attacking the title as it is insured, or reimburse the insured for the actual monetary loss incurred, up to the dollar amount of insurance provided by the policy. Face it mistakes happen.  There are always incidents of fraud, negligence, voidable contracts, wills, title issues, recording errors, liens, taxes, and an heir's claims against an estate.  Title insurance is the only way to ensure complete protection of a homeowner to insure and protect their equitable interest in their own home.