What is title insurance and why do I need it?
- You need title insurance when you purchase property to make sure there are no outstanding mortgages or liens on the property.
- When you take ownership of the property, you don’t want to worry about an old mortgage coming up.
- The title insurance carrier will do a search and your attorney will ensure that if there are mortgages or liens, they are taken care of at the closing so you have nothing to worry about.
- After closing, you get an insurance policy and if something does pop up, the carrier will take care of it.