Why Title Insurance?

Why use Ohio First Land Title for title Insurance in Ohio?

Title insurance is a one-time investment that is purchased during the closing process. Basically, it is an insurance policy that protects you as the owner of the real estate property you are purchasing.

 

There are two types of title insurance policies:

 

• Owners Title Insurance Policy
• Lenders Title Insurance Policy

 

An Owners Title Insurance Policy protects the buyer of the property, covering the landowner from any title issues that exist prior to title transfer to the new owner. The owner’s title policy will remain in effect as long as the insured retains interest in the property.

 

Owners Title Insurance protects against:

 

• Any defects or mistakes in recording of legal documents
• Fraudulent acts of forged deeds, releases or wills
• Undisclosed heirs and missing spouses
• Deeds executed by a person of unsound mind
• Deeds executed by a minor
• Liens of unpaid taxes
• Prior mortgages
• State, federal and local liens
• Judgment liens
• Unmarketable titles

 

A Lenders Title Insurance Policy protects the lender that provides the mortgage. It financially covers the amount of the loan and provides lender protection in the event that the mortgage lien is deemed to be subordinate to another lien. It insures the lender has first priority of the lien on the property. The lender policy remains in effect until the mortgage is paid in full.

 

Lenders Title Insurance protects against:

 

• Invalid or unenforceable mortgages
• Unmarketable titles
• Existing liens

 

Real estate is one of the largest single investments people make in their lifetime, which is why title insurance is your number one defense for protecting your investment.
 

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