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Real Estate Tips
Titles >Do You Really Need Title Insurance

When a home is purchased, title insurance is one of the closing cost items on the closing statement. This insurance protects the buyer from defects in the title that are not discovered until after the closing. There are two kinds of title insurance--coverage that protects the lender for the balance of the mortgage if the buyers have a loan, and coverage that protects the buyers' equity in the property.

It is prudent to purchase owners' coverage because most of the title problems that arise after a closing are not from a sloppy title search, but are the result of inaccurate information in the public records. The ownership chain goes back a long way, and fraud or misrepresentation anywhere in the chain could mean big problems. Title insurance will protect you if a wife or husband did not properly sign off on the ownership papers or if the property was sold as part of an estate that was later disputed. Most people do not have to deal with the title insurance company after the closing, but this coverage could save your investment if a problem arises.

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Real Estate Trivia
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What area in the U.S. is known for its pre-civil war mansions?

A 
Natchez, Mississippi boasts over 500 pre-civil war-style mansions; many are open to the public as museums.
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Bob Kory Team, REALTOR®, real estate agent and broker for West Houston, Katy and Richmond, Texas home listings, property and land for sale - NUMBER1EXPERT

Bob Kory Team
Bob Kory Property Management

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Katy, TX 77450
281-394-4608
Fax: 281-840-6924
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