What Is Title Insurance?

The home buying process is complicated and full of things you may not be familiar with, like title insurance. A title is the written evidence that the owner of a property is lawfully possessing the property and land it’s on.

What is Title Insurance?

If you own property, title insurance will protect you and your mortgage lender from any property loss or damage that might occur from liens or defects on the title.

What makes Title Insurance different than other insurance?

Unlike car or home insurance that you pay monthly or twice yearly, title insurance is paid for once in a premium due around closing time. It protects you from any events that may have happened in the past before you owned the property.

What does Title Insurance cover?

Title insurance protects you from defects such as someone claiming ownership of your property, incorrect documents, easements or liens. All the specifics of your coverage will be listed in your policy.

Is Title Insurance expensive?

Title insurance is regulated by the State of NJ.  The cost of the title insurance premium will be the same from one title company to another.  The title insurance premium is based on the purchase price. This is a one-time cost.

Who pays for Title Insurance?

The Buyer  is responsible for purchasing the new owner’s title insurance. In some cases where buyers a purchasing a bank owned property, the seller will offer to pay for the Title Insurance.

Every homeowner should consider title insurance to protect against unseen circumstances. If you are purchasing an older property or one that has had several different owners, title insurance is especially necessary. For any questions about title insurance, contact your real estate professional. They will be able to guide you through the process and help you find the policy that’s right for you.