What is Title Insurance
Title insurance protects one of the most valuable assets you’ll ever have – real estate. Title insurance is different than most other types of insurance coverage in that: (i) a title policy provides protection for future claims or future losses resulting from title defects which are created by some past event, and (ii) the insured makes only one premium payment for a lifetime of coverage. To ensure this protection, Langdon Title performs an extensive search and examination of the public records to determine whether there are any adverse claims to the subject real estate. If adverse claims are discovered, those claims are either eliminated prior to the issuance of a title policy or their existence is excepted from coverage.In certain cases, there are “hidden risks” that are not discoverable by a search and examination of the public records. Matters such as forgery, incompetency or incapacity of the parties, fraudulent impersonation, and unknown errors in the records are examples of “hidden risks” which could result in an adverse claim against the insured property.Title insurance will pay for defending against any lawsuit attacking the insured title, and will either resolve the title problems or pay the insured’s losses.