The purchase of real estate is the largest single investment you will ever make and is never without risk. Title insurance is crucial and offers protection from financial loss if there is a dispute or claim on the property later on. The value of obtaining an Owner’s Policy of Title Insurance when you purchase your property far outweighs the one-time cost and will protect you for as long as you or your heirs own the property.
Agents DISCOVER AND CURE ERRORS in
ONE OUT OF EVERY THREE
transactions before closing
Researching the history of the property title prior to closing to closing the transaction uncovers title issues that could jeopardize your right of ownership. Valley Land Title Co. helps you protect your American dream by working to eliminate these risks.
Owner’s Policy of Title Insurance —
What Is It?
Owner's Policy of Title Insurance
provides protection against future claims
An Owner’s Policy of Title Insurance protects the Insured (Purchaser) against future claims that may affect the title to the property after it is purchased. Even after the most careful research, some title defects may go undetected for years. Defects such as forgery or fraud may surface at any time in the future as well as unpaid taxes from years past.
The Lender wants to protect their investment so they will request a separate title insurance policy issued to protect their interests.
A Loan Policy solely protects the Lender's interest
- It does not protect you
The Loan Policy protects the Lender against loss due to unknown title defects. It also protects the Lender’s from certain matters which may exist but not be known at the time the loan is made. But this type of insurance policy solely protects the Lender’s interest—it does not protect you. This is why you need an Owner’s Policy of Title Insurance, which can be issued at the same time as the Loan Policy for a nominal one-time fee.Contract to Closing Process Infographic