Do you ever wonder what it is that we do over here at Rowland Title?
Well, it is our job to protect home buyers when buying a home. For example, as a homeowner, you have the option of two types of title policies. Typically, a mortgage lender will require a lender’s title insurance policy, which protects the mortgage on the home. As the buyer, you also have the option to an owner’s title insurance policy. This policy protects your financial investment in your home.
Title insurance financially protects you, as the homeowner, from having to pay any legal fees and claims that weren’t discovered during the title search in your home purchase. This could be something like the previous owner of your home owing back taxes or compensating a missing heir from a previously unknown interest in the home. It also includes any fraudulent or a forged signature on the home’s deed.
Lastly, for a one-time fee paid at closing, you are covered by the policy as long as you own the home. The owner’s title insurance policy protects you, as the home buyer, from any undiscovered defects in the title.
If you are looking to buy a home and have questions, contact us! We look forward to working with you.