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Title Insurance And Clear Home Title Know-How

Believe it or not, title insurance is paid only once at the time of purchase. It actually covers you against the past! Yep, that's right. Allow us to explain title insurance!

Title insurance protects the lender and you as the owner from anyone who makes claims to the ownership of the house or liens against the house prior to your ownership. This is paid once, at the time of closing.

Though it may seem like the buyer would pay for his own insurance, the seller actually pays for the buyer's policy to protect them from any unforeseen circumstances in the home ownership's history called the "chain of title". This form of title insurance is usually referred to as the "owners title insurance premium."

The buyer, in turn, pays for a policy to protect the lender, usually called a "lender's title policy premium" as the lender has a legal claim on the property (also called a lien) until the mortgage is paid off. The rules can vary by state, so please check with your closing company or title insurance provider to verify.

Having the title company perform the title search ensures that you are purchasing a home with a clear chain of title and should provide you peace of mind in the future.

Want more homebuying advice? Nestiny is a great place for homebuyer education and to help you gauge how ready you are to buy a home. Journey Homeward allows you to enter all of your wants and needs while the True Affordability Tool will break down your budget, showing what you can comfortably afford. You will also receive a free Ready Report that is personalized based upon the information that you entered. This report will give you a vital head start in the home buying journey, saving you valuable time and money.

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Ready To Become A Smarter Homebuyer?

By signing up, you agree to Nestiny terms of use .
Whether you need a step-by-step guide, video resource or one of our many helpful tools, Nestiny has your back 24/7 for all things home buying and selling. You choose the pace, material, and when and where to learn. Unlock your free access to Nestiny today!
Are you a real estate professional? Go here .
By clicking this button, you'll enjoy free unlimited access to Nestiny and agree to our terms of use . And don't worry! Nestiny will not share your information with any parties without your consent.