What is Title Insurance?


    Title Insurance is basically insurance against losses incurred through property ownership as a result of any unknown debts, ownership misrepresentation, and other factors. By purchasing a home, the buyer can become responsible for debts (big and small) that he/she had no part in creating. 

    For example, the previous owner could have borrowed thousands of dollars to remodel the home and never paid a penny. The contracting company could have filed a legal document (called a lien) against the house, which you could now be responsible for since you now own the home! You could also be responsible for unpaid mortgages, unpaid taxes, unknown or fraudulent ownerships, misfiled legal documents etc. 

    By choosing the right title insurance company, you will be well protected, both legally and financially from issues like these. Title Insurance is then issued by taking a thorough search of the property in question via a title search (our specialty), and insuring that search through a title insurance company. A Title Insurance company should be selected based on service and reputation because in the state of New Jersey title insurance premiums are regulated by law which means pricing will not vary much from company to company.

If you do not have a title agency to work with, we can refer you to one of the very best! Just email us Orders@CityStandardData.com