100 Painters Mill Road Suite 200
Owings Mills Maryland 21117
Residential Title & Escrow Company Commercial Settlement Services, LLC


Title Insurance Basics: What You Need to Know

Buying a home is a complicated process and when problems with the title arise, an already stressful experience can quickly turn into a huge headache. Title insurance helps to safeguard against these problems and provides you with the security of knowing that you won’t face issues with disputes of your ownership over your home in the future. In today’s blog, learn the basics of what you need to know about title insurance.

title insurance

Title insurance can be complicated.

Title insurance guards you from problems later down the line

Title insurance is meant to provide homeowners with peace of mind. If a problem with your title arises after you have purchased your home, your title insurance guarantees that you won’t be held financially responsible for associated costs such as litigation fees. The most common issue that arises is a dispute over title ownership, so when you purchase your title insurance you are given a Title Insurance Commitment that summarizes the history of your home and any title issues that were uncovered during the title search in order to provide protection in the case of a problem.

These policies always come in two parts

Your title insurance provides coverage for two distinct policies: One for the owner and one for the lender. When you receive a loan in the form of a mortgage from your bank, the bank wants to have confidence that they will be protected from any issues. If it turns out you don’t possess the title to your home, the collateral on which your loan was based becomes moot, which creates the risk that you won’t repay the original loan. The lender’s policy in your title insurance provides the bank assurance that they will be paid back, while the owner’s policy protects a homeowner from title ownership disputes. On the whole, the policies ensure that your ownership of your property will be contested.

Interested in buying or selling a Maryland home? Contact Residential Title and Escrow today!

At Residential Title & Escrow, we bring peace of mind to the settlement table. If you are searching for a title company to help you through the closing process, please contact us today! You can also fill out our simple online title request form and one of our knowledgeable representatives will get in touch with you promptly. Be sure to follow us on Facebook,Twitter, Pinterest, and Google+ to stay up to date on news, and upcoming events as well as staff and client spotlights!

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Residential Title & Escrow Company
100 Painters Mill Road Suite 200 Owings Mills, Maryland 21117
Phone: 410-653-3400