What is Title Insurance?

Title insurance insures the owner against any losses due to defects in title, or expenses in legal defense of the title, up to the amount or liability of the actual insurance policy. The tile policy is usually in the amount of the purchase price. Generally, Title insurance provides coverage only for title problems which were already in existence at the time the policy was issued. An exception to this is to purchase optional additional coverage which costs 10% of the basic title insurance rate. This additional insurance covers post closing cost matters.

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Why Buy Title Insurance?

When buying a home, unlike when buying a car or other consumer goods, it is necessary to have information on the form owner -- such as marital status, whether there are outstanding taxes, or if they are involved in a lawsuit, and more. While the former owner may own the property, others may also have rights in the same property.

A title search can uncover items such as unpaid taxes, easements, loaws and court decisions pertaining to the property, recorded liens or encumbrances and any other matters of record which could affect the title to the property. Often all items affecting the title are not contained in a single book, office or even the same city. Add to this, the possibility of human error at many points. What is not in the public records often causes title problems. For these reasons, a property owner needs the protection title insurance can provide.

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Real Estate information contained in this site deemed reliable but not guaranteed for Las Vegas, Henderson, Summerlin, Green Valley, North Las Vegas, Boulder City ~ Las Vegas Real Estate. This covers MLS Las Vegas commercial real estate or residential homes in Las Vegas, Henderson, Summerlin, North Las Vegas and Green Valley NV. John Chapman is a Realtor for RealEstate.com and serves real estate clients looking for homes, condos, lofts, investment properties and high rise condos in Las Vegas, Henderson, Summerlin, Green Valley, North Las Vegas and Boulder City NV. Floor plans and prices for new high rise condos, Las Vegas homes and lofts are subject to change. Las Vegas MLS multiple listing service data is provided by the Greater Las Vegas Association of Realtors and includes Henderson, Summerlin, Green Valley and North Las Vegas.