Closing Information

Owner's Title Insurance

Why You Should Buy an Owners's Title Insurance Policy at the closing:

Peace of Mind
This is an insurance policy available for purchase at the time of closing. The policy protects the new homeowner's equity against title claims against the property. Some common claims are as follows:

1. Why do I have to purchase a title policy if I already purchased one for my lender?
The lender’s title insurance policy only protects the lender against title claims and does not protect the homeowner and any equity in the property.

2. Why do I need to purchase a title policy if the law firm already checked the title and records with the clerk of the court?
The clerk of the superior court records are not up to date and/or current. The law firm is only responsible for any items filed of record on the date of the exam. In addition, the law firm cannot be responsible for any misfiled or forged deeds.

3. How much does title insurance cost?
The homeowner’s policy is issued at a discounted rate if purchased simultaneous with the lender’s title insurance policy. The cost varies according to sales price so you will need to call the law firm to determine the cost for your purchase.