About Title

A title search is a thorough search of all available public records relating to real estate. The purpose of the search is to discover any potential defects that may affect your title to a property.

A title search should reveal such things as liens, unreleased mortgages, unpaid taxes, judgments against the sellers, restrictions and easements pertaining to the use of the land, etc. However, even the most diligent title search may fail to reveal some hidden hazards, such as fraud, forgery, mistakes in public records, and many other complications mentioned in 15 Common Title Problems. That’s where title insurance steps in to protect you.

First, the word title is a collective term that denotes your bundle of legal rights to own, use, and convey land. Title includes all previous ownership, uses, and conveyances of the property. To properly transfer real estate, a title search should be completed and, in most cases, the title must be found free of any conditions or “clouds on title,” which could endanger your right to ownership. Title insurance protects you, the new owner, against possible clouds on title and against losses under the terms of your policy should your ownership to your property be challenged.

Lawyers Title of Cincinnati offers Owner’s Title Insurance in order to protect you against numerous title defects that could result in substantial financial loss or possibly the loss of possession of your property.

Every lender will secure some form of title evidence which will indicate that the lien of their mortgage is the first and best lien on the property. The title insurance which protects the lender does not protect the homeowner’s interest in the property. A lender’s policy protects the lender up to the amount remaining on the mortgage.

Without the protection of Owner’s Title Insurance, there are many title issues that could surface to impair the title to your property. The title search may have been comprehensive, but your title may still be fatally flawed. The flaws may be due hidden hazards (see 15 Common Title Problems). Hidden hazards are title issues not shown within the public records.

Owner’s title insurance protects you from financial loss caused by title problems. The title insurer, without expense to you, will defend your title, in the event of a claim. The one-time premium is small. The protection is immense!

The particular types of risks protected against are identified in the policy. Generally, title insurance policies will provide for attorney’s fees for defending the insured against any lawsuit attacking your title. Title insurance will pay the insured’s losses. An owner’s title insurance policy may remain in effect even after you, the owner, transfer title to the property.

The title insurance premium is a one-time payment, which is paid during the closing process (and can be incorporated within the settlement statement). Unlike other insurance, the original premium is your only cost.

Title insurance is regulated by most states. As a result, fees charged for title insurance are essentially the same for any transaction within the regulated states.

Please click here to determine the actual cost of an owner’s title insurance policy for your property located in Ohio, Kentucky, or Indiana.

You should choose a company with long-term experience and with underwriters having the financial strength to defend you should a claim arise.

Lawyers Title of Cincinnati, Inc. has been successfully protecting our policyholders since 1936. If you are considering buying real estate, please contact one of our representatives and discover how simple it is to fully protect yourself against title loss.

We would love to hear from you! Click here and let us know how we can help you