Your home is often your largest purchase and it is important to protect your most valuable asset. There are lots of problems (called “title defects”) that can arise and cause a claim against your title. In spite of a careful search of public records prior to closing, sometime hidden issues exist that arise later. This hidden risks can attack your title and cause considerable legal expense, and in some cases, a total loss of title.

Title insurance defends you against any lawsuit attacking your title. The title insurance policy will cover the cost of correcting the defect that is attacking your title, or will reimburse you for your loss, up to the face amount of the title insurance property.

Title insurance protects your investment in your most prized asset, your home.

Protect your investment with help from AllQuest Title Agency.

• Mistakes in recording legal documents, including failure to record
• Public records indexing errors
• Forgery on a deed, release, or other legal documents
• Failure of all parties to join in conveyances
• Missing, undisclosed, or unknown heirs
• Liens for unpaid taxes, including estate taxes, gift taxes, and other types of taxes
• Deeds from unauthorized signers for LLC, corporations, or trusts
• Mechanic or Homeowner Association liens

The Ohio Department of Insurance sets the rates for title insurance for all underwriters and agents. The rates are depended on the value of the home or the loan and do not vary from one agency or underwriter to another. There are two basic types of title insurance policies.

Lender’s Policy: When you obtain a home loan for your property, the lender almost always asks for a title insurance lender’s Policy. This is a title policy that you pay for that insures the lender’s investment should a title issue arise. IT DOES NOT PROTECT THE HOMEOWNER.  In the event of a title issue, the lender’s policy will protect the lender up to the amount of the current balance of the loan. The homeowner has no protection under this type of policy.

Owner’s Policy: The owner’s policy protects the interest and investment of the titled person or persons who own the property. Should a title issue arise, the homeowner will be protected by the policy up to the stated value of the home if owner’s insurance was selected prior to the closing.