What Is Title Insurance? Understanding Aspects Of Home Buying

If you are a first time home buyer or even if you already own property in Fort Myers, Cape Coral or anywhere else, there are particular aspects of the process that may be rather foreign. Title insurance is one thing that many people do not really understand the importance of unless they need to use it. Often the seller or buyer will just go with the title insurance company recommended by a lender or attorney to avoid the hassle of finding someone else. Instead, take the time to educate yourself and choose a company that will work with your best interests in mind. 

What Is Title Insurance?

 Often people wonder what exactly title insurance is. The existence of title insurance began in 1853 with the establishment of the very first company. Since then the industry has grown. Primarily, title insurance is only used in the United States including Fort Myers and Cape Coral, FL. However, there are a small percentage of policies for property located in other countries. This is largely due to the method of record keeping used by local governments in the US. The potential for discrepancies and other unforeseen issues could arise out of not having title insurance. Title insurance ensures that the policyholder has a right to a claim for damages if an issue should arise.

 What Does Title Insurance Cover?

 In general, the policy protects the buyer or lender from issues that may arise regarding ownership of the title including defects, liens, taxes owed or other issues. The exact aspects of the coverage depend on the policy, exceptions and endorsements. There are two different types of policies depending on the relationship to the property. The owner’s policy, which provides coverage to defend their rights to the property or reimburse them for loss. The lender’s policy insures that the lender has a valid, enforceable lien on the property. It also insures that the lenders lien is in the position designated by lender instructions.

 Finding The Best Title Insurance Company

 You should find a trustworthy company that will be able to protect your investment along with being able to walk you through step by step and answer any questions. At Title Junction, we have been serving residents in Cape Coral, Fort Myers and the entire state of Florida since 2005 and are underwritten by a company that has been in business since 1941. Our company is built on protecting our client’s investments. For more information on the services that we offer, contact our office at 239-415-6574 or toll free at 866-415-6574. You can also visit us on the web at http://www.title-junction.com/


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Jennifer Ferri, Owner

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