Why Title Insurance Is Important – Butler County Ohio Realtor Marti McClure-Gibbins

Title Insurance = Peace of Mind For Home Buyers in Butler County, Ohio

Purchasing a home is probably the single biggest investment you will ever make. Before closing on the house, you'll want to know that no other individual or entity has a right, lien or claim to the property.

Determining that your rights and interests to the property are clear is the business of a title insurance company.

For a modest, one-time title insurance premium, you will receive continuous title insurance protection in an amount equal to the purchase price of the property or its current market value. This premium typically includes your "owners" policy as well as the "lenders" policy. The "lenders" policy protects the lender's interest in the property, but it does not protect your interests.

Normally, the title insurance company completes extensive research into relevant public records, maps and documents to trace ownership of the property and determine if anyone other than you has an interest in the property. Through its research, the title insurance company can usually identify any title problems that may arise and have these problems cleared-up prior to closing. Sometimes, whether due to human error or not, a cloud or defect in the chain of title may not be discovered. Other times, there may be problems that are not yet present, such as an unknown heir of a past owner who passed away.

Your title insurance owner's policy will describe the property and outline any recorded limitations on your ownership. It will also set forth the title insurance company's responsibilities should any claim covered by the policy terms arise. Typically your title insurance will protect you from loss:

if someone contests your title in legal action (the title insurance company will defend the title at no expense to you),
or if there is a title defect that cannot be eliminated (the title insurance company will protect you from financial loss - up to the amount of the policy).

If you have any questions about title insurance, ask your Realtor® for the name and phone number of reputable title company. Your Realtor® will have experience with many title companies and should be able to provide you with a recommendation (based on good and bad experiences). At the top of my list is Xanders & Xanders, LPA and the Attorney is George L. Xanders. Many buyer's are not aware that they can shop title companies and choose the one that they feel comfortable using.

An additional source of information is the American Land Title Association.

If you are considering the purchase of a home in Butler County, Ohio, please do not hesitate to contact me. My direct line is (513) 238-8809 or you can email me at myrealtor@cinci.rr.com.

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All Information Contained Within This Website Is Believed To Be Accurate But Is Not Guaranteed By Marti McClure-Gibbins or The Real Estate Professionals, LLC ®. External Links Are For Your Convenience Only And Are Not Necessarily A Recommendation or Reference. All Information Provided By The External Links Is Believed To Be Accurate But Is Not Guaranteed By Marti McClure-Gibbins or The Real Estate Professionals, LLC ®. As With Everything, Information Should Be Independently Verified.

It is illegal, pursuant to the Ohio Fair Housing Law, Division (H) of Section 4112.02 of the Revised Code and the Federal Fair Housing law, 42 U.S.C.A. 3601, to refuse to sell, transfer, assign, rent, lease, sublease or finance housing accommodations, refuse to negotiate for the sale or rental of housing accommodations, or otherwise deny or make unavailable housing accommodations because of race, color, religion, sex, familial status as defined in section 4112.01 of the Revised Code, ancestry, military status as defined in that section, disability as defined in that section, or national origin or to so discriminate in advertising the sale or rental of housing, in the financing of housing, or in the provision of real estate brokerage services.

It is also illegal, for profit, to induce or attempt to induce a person to sell or rent a dwelling by representations regarding the entry into the neighborhood of a person or persons belonging to one of the protected classes.