Title insurance

Title insurance is a safeguard designed to protect both lenders and buyers from financial loss due to disputes over property ownership. Often a prerequisite for obtaining a mortgage, this insurance ensures that the title to a property is clear and valid at the time of purchase. The title document confers legal ownership, but issues such as liens or encumbrances can complicate ownership. For example, if a contractor files a lien for unpaid work done before you purchased the property, you could be held responsible for that debt, even if you were unaware of it at the time of purchase. Title insurance would cover such claims, ensuring that you are not financially liable for unresolved issues from before the sale, thus providing peace of mind and financial protection.