Title insurance is the foundation of ownership of property.
It means that an individual has the legal right to possess the property and use it within the restrictions imposed by authorities, or limitations on it’s use. Basically, Title Insurance protects the investment by allowing experts to search the records to guarantee the property is free and clear of a ‘Title Defect’ or past claim.
‘Title Defects’ or past claims are hidden risks that include, but are not limited to forgery and fraud, unpaid taxes, missing heirs, and legal descriptions.