Protecting Your Largest Single Investment

Protecting Your Largest Single Investment Title insurance is not as well understood as other types of home insurance but it is just as important. You see, when purchasing a home, you are really purchasing the title to the property – the right to occupy and use the space. That title may be limited by rights and claims asserted by others, which may limit your use and enjoyment of the property and even bring financial loss. Title insurance protects against these types of title hazards. Other types of insurance that protect your home focus on possible future events and charge an annual premium. On the other hand, title insurance protects against losses from hazards and defects that already exist on the title and is purchased with a one-time premium. Two kinds of title insurance benefit you in two ways There are two kinds of title insurance: ◦Lender or mortgagee protection ◦Owner coverage Most lenders require mortgagee title insurance as security for their investment, just as they might require fire insurance and other types of coverage as issues for protection. When title insurance is provided, lenders are willing to make mortgage money available. Owner’s title insurance lasts as long as you, the policyholder, or your heirs, has an interest in the insured property. This may even be after you have sold the property. Depending on local practices, you may pay an additional premium for an owner’s policy or you may pay a simultaneous issue charge – usually a much smaller amount – for the separate lender’s coverage. Visit us today www.TreasuryMtg.com