Title insurance is an insurance policy that protects the insured against loss of his/her interest in the property due to legal defects in title, which existed prior to you taking title to the property.
The purchase of a home or other real estate is generally a significant investment. Having title insurance can save you money, time, trouble, and even your home, if a problem arises in your title.
There are two types of coverage offered. The first is a Lenderâ€™s Title Policy This type of policy protects the Lender involved in the transaction (the Mortgage Company) to the extent of its loan. It does not protect the homeownersâ€™ interest. This policy is generally a condition of your mortgage. The second type of coverage is the Ownerâ€™s Title Policy. This policy is optional, and it offers the homeowners protection against loss of their interest in the property due to a title problem arising, subject to the terms of the policy.
Although a title search is conducted, the search could still fail to detect some problems that may affect your interest in the property. Some examples of these types of problems are: 1) incorrect information in the public records, 2) unsatisfied liens against the property, 3) claims to ownership from an undisclosed interest (i.e.: missing heirs, marital interests, 4) invalid deeds and/or transfers, 5) fraud or forgeries.
The main difference between title insurance and other insurance policies is that title insurance protects the insured party against defects in title that may arise as a result of prior ownership. Other insurance policies protect the insured from loss as a result of future actions and not against prior acts or omissions.
Ms. Templeton is a title insurance agent with The Security Title Guarantee Corporation of Baltimore, an established company which has been providing title insurance services since 1952.
If you have a residential real estate matter you would like to discuss, please feel free to contact the office for an appointment or send an e-mail direct to Ms. Templeton at
"Property is surely a right of mankind as real as liberty" ‐ John Adams
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