What is Title Insurance?
Title insurance is a contract of indemnity which guarantees that the title to the property is as reported. If it is not as reported, title companies will reimburse the buyers for actual loss or damage under the condition specified in the policy. The title policy covers the insured for their loss up to the amount of the policy.
Title insurance assures owners that they are acquiring marketable title, and it is also designed to eliminate risk or loss caused by defects in title from the past. Title insurance provides coverage only for title problems which were already in existence at the time the policy was issued.
For more information, please feel free to contact me.
Cheryl Tolan 805.614.2608
Fidelity Title & Escrow Santa Maria, Ca.