Title Insurance = Peace of Mind

	Shopping for a mortgage? We'd be thrilled to answer your questions about our mortgage offerings! Give us a call at 405-513-7700. Ready to get started? Apply Here.

Buying a home may be the largest investment you make in your life. So before you close, you need to know that no one else can claim the property.

A title insurance company ensures that your new property is free of encumbrances and other legal obstacles.

You pay the title insurance company a single premium which includes the cost of verifying clear title and covers you in case some fault is later discovered in the title.

The title company performs an extensive search on the title history of the property. Through its research, the title company can usually identify any title problems and clear up these problems before you close on the property.

Real Estate law is extraordinarily complicated. Title companies make sure that all the T's are crossed and all the I's are dotted so you don't end up with a clouded title and legal problems. Your title insurance owner's policy will describe the property and outline any recorded limitations on your ownership. It will also cover what the title company is responsible for. Typically your title insurance will protect you in the following cases:

• Contested title — Someone, usually a previous owner or occupant, claims they still own the property or have not given up their claim. In this case, the title insurance company will defend your title and will cost you nothing.
• Defective title — This is a general term for a legal problem with the title that cannot be corrected and includes "contested title" above. Defects are rare, but they can be very difficult, making the property inaccessible, unbuildable, or unsaleable. Any number of other complicated problems define "Defective title." The title insurance company will find these title problems, or should they miss them, protect you from financial loss - up to the amount of the policy.

At Price Mortgage Group LLC, we answer questions about this process every day. Call us: 405-513-7700.