WHAT IS TITLE INSURANCE? When you buy a property (home or land), you want to be sure the seller can legally transfer ownership of the property to you. Title to the property is the legal ownership of the property. If you have a mortgage, your lender also wants to make sure that they have clear title to the collateral to be able to foreclose and sell the property if you default on your mortgage.

TITLE INSURANCE ensures that the title is clear to transfer and provides an insurance policy to pay you or the mortgage lender in the event of a claim.

HOW DOES TITLE INSURANCE WORK? When you get a mortgage to buy a property or refinance a mortgage, your lender requires you or the seller of the property to buy title insurance that protects the lender. That insurance is called a Lender’s Title Insurance Policy. The title agent/ insurer searches public records to see if there is anything that might prevent clear title to the property. Things that can create a title problem can include, for example:

Title insurance doesn’t guarantee your title to the property, but it does protect you in other important ways...

Read more: OSI_Property Insurance Brochure_Online PDF.pdf