Protecting Your Investment! Why an Owner’s Title Insurance Policy is so Important!
Title Insurance is the key to protecting your home. It also provides you – the homeowner – peace of mind and takes the risk out of acquiring property whose legal history is unknown to you. While, ideally, there should be no risks in acquiring property, they do exist.
Throughout the years, your new property may have changed hands many times through sale, inheritance, foreclosure or bankruptcy. Each transfer was an opportunity for an error in title to arise. If an error occurred, and has never come to light, it puts your title in jeopardy.
Before an Owner’s Policy is issued, Champion Title conducts a search of public records and related documents. Besides describing your property and spelling out any recorded limitation on your ownership, a title insurance policy sets forth in clear terms what Champion Title’s underwriter’s will do in the event that a flaw in the title is discovered or your rights of ownership are challenged. In simple terms, Champion Title & its underwriters agree to:
1. To defend your title in the courts, as insured, at its own expense.
2. To correct or clear the title when possible.