"The Stakes Are High  In Real Estate"

You should never consider purchasing property without making "Title Insurance" a condition of the sale. We find that "Title Insurance" is often an aspect of the real estate transaction that many people find very confusing.

Let us first explain the two types of "Title Insurance" and what they cover.

I. TITLE INSURANCE - (LENDER’S OR MORTGAGEE'S)

The Lender’s Title Insurance is to minimize the risk of lending money for the purchase of real estate by assuring that the title to the property to be acquired and which will be pledged as security for the loan is protected from losses as a result of title defects.

The Lender’s Title Insurance Policy will protect the lender against loss, however, it does not protect the borrower.

II. TITLE INSURANCE – (OWNER)

The "Title Insurance Policy" for the borrower is to cover their interest in the property. It will protect their financial interest in the property and assume the financial burden of their defense if a matter arises affecting the past ownership of a property.

Title Insurance is different from any other type of insurance. Most insurance policies run from a current date into the future. Title Insurance runs from the date your title was searched back into the past. This is done to protect you from any type of claim that may have already occurred and insure that you have a clear title to the property.

Your Title Insurance Policy will last as long as your own the property. If in the future, if you decide to sell the property, the records will then need to be brought current to provide proof to the new buyer that everything is "insurable".

WLRT provides discounts on Title Insurance premiums for repeat customers or if the customer can provide our office with a copy of their current Title Insurance policy.