Title insurance provides invaluable information to all parties involved in
any real estate transaction. The information we look for is to make sure that title can be passed without any defects, such as fraud, improper transfer of property and, believe it or not, human error in transcribing information. Should someone claim they have rights to your land or property, by having an owners title policy, you are covered by the title company your interest in court. It’s a one-time fee that covers you as
long as you own the property!

There are two types of title insurance. An owner’s policy, which covers
you the owner and a lender’s policy that covers the lender. An owner’s policy should be purchased for the amount you are buying the property
for. This will cover you for the life of the time you own the property. Your lender as part of the loan process normally requires a lender’s policy. }
The lender's policy will usually be purchased for the amount of your loan.

If you are refinancing, it’s normal for the lender to require the purchase
of a new lender’s policy, no matter how long ago you bought the
property. Because you are paying off the existing loan and obtaining a
new loan, the lender will require a new title policy. But you are not
required to purchase a new owner's policy when refinancing.

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