What is Title Insurance?
Title insurance can protect you and your lender if someone challenges your title to the property after your purchase. The loan title policy protects the lender for the loan amount if a problem voids your title to the property because of defects that were unknown when you bought the property. The owner’s title policy protects your interest in the property when title defects appear after closing. When you buy a property, and a loan title policy is issued, the title company will also issue an owner’s title policy to protect your title interest, unless you decline it in writing. Southwest Land Title provides you with the title services you need to make sure that your property transactions proceed as smoothly as possible. Most lenders will not advance you money to purchase a property unless you also purchase a loan title policy to protect the lender. Even if no lender is involved in a transaction, it’s a wise decision for the purchaser to insist on a title examination as a condition of closing and also consider the purchase of owner’s title insurance. Property title can be affected by all sorts of issues and events such as probate, easements, mechanics liens, divorce, unpaid taxes, misplaced fences, and the reservation of oil and other mineral interests. Southwest Land Title is expert at finding these issues and resolving them, according to our insurance underwriters’ guidelines, before your property closing. Whether you are refinancing your home, purchasing a new home or an investment property, obtaining a home equity loan, or obtaining a reverse mortgage, trust Southwest Land Title to provide you with expert, courteous title examination, title insurance, and closing and disbursement services. |