What is Title Insurance?
Title insurance provides coverage for certain losses due to defects in the title that occurred prior to your ownership. The seller can give only those right that previously have been received with "good title." Title insurance protects against defects such as prior fraud or forgery that might go undetected until after closing and possibly jeopardize your ownership and investment.
Title Insurance Industry
in brief:
Prior to the development of the title industry in the late 1800's a home buyer received a grantor's warranty, attorney's title opinion or abstractor's certification as assurance of home ownership. The buyer relied on the financial integrity of the grantor's, attorney, or abstractor for protection. Today title insurance companies are regulated by state statute. They are required to post financial guarantees to ensure that any claims will be paid in a timely fashion. They also must maintain their own "title plant" which house duplicates of recorded deed, mortgages, plats and other pertinent county property records.
This information if offered by: Crescent Moon Realty, Inc.. Get your "FREE" home buyers guide-contact: Crescent Moon Realty, Inc.
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