Title services assure that your new property is free of claims or encumbrances. Although homebuyers may choose any title service provider licensed in their state, many use agencies that are recommended by real estate or legal professionals. Some title agencies are even owned by that same Realtor ® or Bank blurring the line of trust and confidence.

What is a title search?

Before you close on a new home, a title company conducts a thorough review of the public records associated with the property, and uncovers any foreseeable threats to your pending new home that arise. Even with a title search, a title agency can not 100% guarantee that hidden, undisclosed threats aren’t looming undetected.

Title insurance companies ensure property ownership long after closing by conducting title searches and securing Owner’s Policies of Title Insurance.

What is title insurance?

With the Owner’s Policy of Title Insurance, title agencies continue to defend home ownership long after the closing documents are signed. Under the policy, a title company will cover the costs of defending a homeowner from any claims brought against her/his property post-closing.

Title insurance protects the equity homebuyers have accumulated from the negligence of their home’s past owners.

For bank lenders who secure the mortgage of homebuyers, title insurance is mandatory. For homebuyers who are committed to protecting their investment, title insurance is equally as essential. Get the protection and added value you deserve with Fortune, a leading title knowledge and services provider.

When would I need title insurance?

What if a contractor who never received payment from a previous homeowner demands equity over your new home? A previous owner failed to pay local or state taxes? A relative of a previous owner comes forward claiming ownership over your new home? Ownership over your property will be threatened. While such events are unlikely, they can cost a new homeowner their financial investment.

A title insurance policy is an investment in protecting your financial security.

Who chooses a title insurance agency?

Homebuyers have the right to select a title company to not only conduct their closing but also secure an Owner’s Policy of Title Insurance. Title Insurance companies protect the ownership of a homebuyer before and after closing on a property.

(Learn more: 7 Considerations for Choosing a Title Search Agency)

A title insurance policy is offered to homebuyers at closing, and lasts as long as the homebuyer and his/her heirs own a property.