Title insurance is an insurance policy that protects residential or commercial property owners and their lenders against losses related to the property’s title or ownership.

 
The decision on whether or not you should purchase title insurance should be discussed with your lawyer, title insurance company or insurance agent/broker, to fully understand what type of protection title insurance can provide you, and to determine if other options exist. Once you get all the facts, you can make an informed decision based on your specific situation and needs. It is important to keep in mind that title insurance does not replace legal advice when purchasing property.

For a one-time fee, called a premium, a title insurance policy may provide protection from such losses as:

• Unknown title defects (title issues that prevent you from having clear ownership of the property);
• Existing liens against the property’s title (e.g. the previous owner had unpaid debts from utilities, mortgages, property taxes or condominium charges secured against the property);
• Encroachment issues (e.g. a structure on your property needs to be removed because it is on your neighbour’s property);
• Title fraud;
• Errors in surveys and public records;
•  Other title-related issues that can affect your ability to sell, mortgage,or lease your property in the future.  

Your title insurance policy will protect you as long as you own your property, and will cover losses up to the maximum coverage set out in the policy. It may also cover most legal expenses related to restoring your property’s title. 

At Beacon Title Services , our office and employees take pride in title services that meet customer demands for efficient and timely processing and quality products. Locally owned and operated, we provide title insurance, underwriting, escrow and closing services to residential, commercial and industrial clients, lenders, developers, attorneys, real estate professionals and consumers.

The purchase of a home is one of the biggest investments you will ever make.  It can also be one of the most stressful events you will ever endure.  Let our experienced staff simplify your life by making your transaction close as smoothly as possible.  Call today and experience the difference we can make!