Title Insurance Resources

Lender’s Title insurance is required by lending institutions during residential closing and escrow processes in Ohio. There are two types of policies: one for the lender and one for the homeowner. While the lender’s policy is mandatory, it is strongly recommended to purchase an additional policy to protect yourself. A title insurance policy is issued after thorough research into the document history of the property. It ensures the accuracy and sufficiency of the abstract, and examination of the title and covers matters outside the scope of the abstract. Additionally, it protects against various claims and interests, such as unknown heirs, secret marriages, and other legal complexities.

Most lenders demand a title insurance policy, and it is prudent for buyers to have a separate policy to safeguard their interests. A professional examiner searches public records for issues that could affect the property’s title, and should any problems arise, the title company will rectify them. The owner’s policy remains attached to the property, eliminating the need for future purchases.

A title agency offers several services related to real estate transactions. This includes conducting title searches to verify the property’s ownership history, issuing title insurance policies, facilitating escrow services (including securing all incoming funds and accurately disbursing sale funds to the appropriate parties), coordinating the closing process, and ensuring all legal requirements are met for a smooth and secure real estate transaction.