Why Title Insurance Matters
Protect Your Ownership Interest With a One-Time Premium
When you purchase a home, commercial building, vacant land, or other real estate, you acquire both the property and the legal rights associated with its ownership. Problems arising from the property’s prior ownership—such as unpaid liens, recording errors, conflicting ownership claims, or improperly executed documents—may threaten those rights after closing.
An owner’s title insurance policy protects the buyer against covered title defects that existed before the policy’s effective date. Unlike most forms of insurance, the premium is generally paid only once at closing, and the owner’s policy ordinarily remains effective for as long as the insured owner or the owner’s heirs retain an interest in the property, subject to the policy’s terms, conditions, and exclusions.
When a purchase is financed, the lender will generally require a separate lender’s title insurance policy protecting the lender’s mortgage interest. A lender’s policy does not replace an owner’s policy or protect the buyer’s ownership interest.
Gold Key Title, LC coordinates the title search and examination, works to identify and resolve title issues before closing, and issues title insurance policies for residential and commercial real estate transactions throughout Bradenton, Sarasota, and surrounding communities.