What is Title Insurance?

what is title insurance - homes for sale williamson county

When you’re buying a home, you’ll hear all kinds of new terms — and one of them is title insurance. You probably already know that you need it, but what is title insurance — and what does it do for you?

What is Title Insurance?

Title insurance is a necessity if you’re buying a home. In fact, most lenders will require that you purchase it. However, the insurance you purchase for your mortgage lender isn’t designed to protect you. It’s designed to protect the lender.

That’s why many people choose to purchase buyer’s title insurance.

Unlike the types of insurance you’re already familiar with — car insurance, life insurance and homeowner’s insurance, which cover you in case something happens in the future — buyer’s title insurance covers you for things that might have happened in the past (long before you bought your home).

What Does Title Insurance Protect You Against?

Title insurance can protect you against other people’s claims against your property and title defects.

Buyer’s title insurance can protect you from:

  • Adverse possession
  • Forgeries
  • Errors in tax records
  • Undisclosed heirs
  • Deeds by minors
  • Impersonation of true land owners
  • False affidavits of death or heirship
  • Fraud
  • Probate matters

How Do You Pay for Buyer’s Title Insurance?

Buyer’s title insurance typically costs you a one-time premium. You never have to pay for it again.

The title insurance agent you hire will conduct research on the title to find out whether there are any defects that could threaten your ownership of the home. If the agent finds any, he or she will attempt to correct them.

However, if a defect arises later (10, 20 or even 50 years after you’ve purchased the home), that title insurance policy that you purchased will kick in. You’ll be defended against all covered claims.

Are You Buying a Home in Williamson County?

If you’re thinking about buying a home in Williamson County, we can help you find the perfect place to live.

Call us at 615-473-5973 or get in touch with us online. We’ll begin a custom search as soon as we know what you need.