“Title” is a word that not everyone completely understands.

It was a normal day of hectic closings. Crazy last-minute changes, end of the month and remote attorney’s on zoom to boot! Then a kind, young man walked into my office. He asked if I might help him with a question. Of course, I said! He wanted to know if our company could assist him with his car title, he had not received back from the state. I unfortunately had to inform him that we could not. I then began to explain to him what title insurance is and to educate him a little of what that was and what we did. Title in his mind, was a piece of paper.  Little did he know that one short word could have so much meaning and importance? There is quite a bit of difference between a car title and title Insurance for real estate.

Title is not a document but the actual right of ownership for real estate. Title insurance is the policy that helps protect your ownership rights against possible claims. Title insurance guarantees that you own the property you purchased with no encumbrances. If you finance your home, most lenders will require a lender’s title insurance policy.

Although I was unable to help him with his car title, I did introduce him to title insurance and a real estate agent so he may purchase his first home and then we can handle his closing and his title!