Howes & Howes, Attorneys at Law

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How does title insurance protect me?

A property owner’s title insurance policy insures an owner of real estate against loss occasioned by defects in, liens against or unmarketability of the owner’s title.

As a purchaser of real estate, you will notice that one of the large expenses on your closing statement is for title insurance.  It is yet another cost of purchasing land or a home in New Jersey.  What’s worse, you can’t shop around for a better premium because title insurance premiums are set by state law.

If you are represented by an experienced real estate attorney in central and northern New Jersey, then you do not have to shop for title insurance.  An experienced real estate attorney such as Katherine Howes maintains a professional relationship with a top-notch title insurance company.  At the appropriate stage of the purchase, the attorney will order title insurance.

The attorney will obtain back title documents and provide them to the title company, who will then perform title searches.  Title searches will reveal any existing claims on the title to real property, such as mortgages, legal judgments against the current owner, child support or alimony judgments and even motor vehicle surcharges.  The title company then issues insurance based upon the results of the searches, conditioned upon the removal of any claims against title.

A policy of title insurance protects an new of real estate against loss occasioned by defects in, liens against or unmarketability of the former owner’s title.  The title insurance policy will also protect the mortgage lender against those same claims.  Indeed, a purchase money mortgage lender will require that the purchaser obtain title insurance.

If you have further questions regarding title insurance in central New Jersey, then you should contact Katherine Howes.


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