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What Is Title Insurance?

And why is it important to me?

When you decide to buy real estate, how can you be sure that the person who is selling it is the property’s true owner? Or its only owner? Or that the property is free from liens? Title insurance is the answer.

Unlike other forms of insurance that insure against things that may happen in the future, such as a fire or a flood, title insurance looks back at the history of a property to determine whether anyone other than the seller has a claim to or an interest in the property. No title insurer will close a transaction – and insure a property’s title – unless and until all outstanding claims of ownership and unreleased liens are eliminated, either before or at the closing. The title insurer carefully performs its investigation, and requires that all title defects be cured, to protect your investment in the propertyfrom past owners and past liens.

In Texas, title companies not only research and insure a property’s title, but they also close the sale of the property. Today, closing even a typical real estate transaction, such as an ordinary home purchase, is a very complex task involving many documents, services, and parties. A title company orchestrates all of the parts and players in the transaction, bringing them all together in a timely and effective manner to make the closing as smooth and worry-free as possible.