Why do I Need Title Insurance?

Home buyers know that it's important to buy insurance to protect their home from future losses - such as fire, theft, or storm damage. But you can and should protect your home from events that may have happened in the past.

That's where title insurance comes in.

When buying a home, you don't buy the actual land or building. You buy the title to the property. That title gives you the right to occupy and use that space.

Potential Problems for the Home Buyer

The current owners of the home - along with their family and heirs - have strong rights to that property.

A title may have liens or claims against the property for such things as:

• unpaid parking tickets
• missed child support payments
• failure to pay homeowner association dues

These claims must be resolved before a property can be sold. If they aren't discovered, title insurance can protect your investment.

The insurer will provide legal claims covering any losses which may result in a claim against one's title to the property.

Two Types of Title Insurance

Owner's Policy:

• Covers the homeowner against any defects in title.
• Coverage never expires as long as you have an interest in the property.
• One-time cost that insures without end.

Lender's Policy:

• Covers the financial institution holding the mortgage on the property.
• Required by the lender.
• Protects the mortgage holder in case a problem with the title is later uncovered.

Prestige Title works through 2 national underwriters:

• Chicago Title Insurance
• Fidelity National Financial Group

For further information about title insurance:

Contact Mary at: prestige@prestige-title.com or

425 Alexandria Boulevard, Suite 1000 (click for map)
Oviedo, Florida 32765
Phone: 407-365-1123
Cell: 407-496-7646
Toll Free: 866-365-1123
Fax: 407-365-3211