For most people their home is their largest investment, and they want to make sure that investment is as safe as money in an insured bank vault. So, in order to protect your investment in your home, Lytle Title will search the courthouse records to make sure the seller can convey clear and marketable title to you. We will look for judgments, tax liens, lawsuits and other problems, and we won't let the deal close unless there aren't any. Similarly, we will order a survey to make sure there are no impermissible encroachments or easements on your property.
While a title search should uncover problems of record in the courthouse, and a survey should uncover matters on the ground, that does not mean there might not be title problems. For example, courthouse records will not reveal forgery, fraud, unknown heirs, lost wills, etc. For this reason, lenders will require that their (security) interest in your house be protected with title insurance. Title insurance is just like any other type of insurance except that it insures against title problems.
The lender's policy does not give you any protection. At closing you will be given the opportunity to purchase owner's title insurance, which would protect you, for a reasonable one-time premium paid at closing. We highly recommend you purchase this insurance. Please contact us for a specific quote, or you may get an estimate with our title premium calculator.
We underwrite with First American Title Insurance Corporation, one of the foremost and sound companies in the country. We specifically recommend their Eagle Policy, a great deal given the broad coverage. Please visit their web site for more information.
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