The largest purchase that most individuals make during their lifetime is a purchase of real estate. When this purchase does occur, there will be many types of insurance that are necessary in protecting your investment.
Title insurance is one of those insurances that should be purchased. Title insurance is policy of indemnity protecting real estate buyers and lenders from financial loss in the event that issues may develop regarding the rights to ownership of property.
In many cases there are hidden title defects (leins or unpaid taxes, improper ownership records etc.) These defects need to be remedied in order to protect all parties involved in the transaction. The job of the title insurance company is to find and fix these problems before they become further burdensome. The title insurance will protect the buyer and lenders from potential loss going forward.