The objective of a Title Insurance Agency is to help the parties to a real estate transaction understand their rights and interests, and assure that the transaction is expeditious, confident, and secure.
Title insurance is substantially different than other types of insurance coverage, which can often lead to a misunderstanding of the product. Title insurance emphasizes risk prevention rather than risk assumption. This emphasis on risk prevention is a labor-intensive and costly component of doing business, but the coverage offers the best possible opportunity for avoiding claims and losses that can have a significant financial impact through real estate transactions.
While the vast majority of issues are readily discoverable or uncovered, in a title search by skilled professionals, there can be hidden hazards that even the most thorough search may not reveal. Examples include forgeries in the chain of title, a claim by a previously undisclosed relative of a former owner, or a mistake in the records. Liens, easements, rights-of-way, life estates, air and subsurface rights, and future interests are some issues found in a title search.
Financially protecting the parties involved in real estate transactions is the reason title insurance and title products including title agencies were developed and have become widely adopted and trusted.