Title insurance is a type of insurance that protects buyers and their mortgage holders from financial loss should there be a defect in title relating to the covered property. There are two types of title insurance we provide. One is for the Lender and the other is for you, the Owner.
Essentially all Lenders require title insurance for those procuring a mortgage with them. This product covers them should any legal difficulties arise with your transaction in the future. You bear the cost for this as part of your closing fees to protect the Lender.
The other type is “Owner's Title Insurance,” which protects your equity in the property. Should a defect in title surface at a later date, Sterling Title Agency and their Underwriter, Old Republic National Title Insurance Company, act legally on your behalf to correct the defect so you don't suffer any financial loss. The team of title insurance specialists at Sterling Title and the staff of attorney's with Old Republic are very experienced in all matters relating to any problems that may arise. This service remains in effect for as long as you own the property. Therefore, it is always a best practice to purchase an "Owners Policy" for your property and not just the required "Lenders Policy."
Please contact one of our specialists for advice on how to handle your particular needs, or whenever you have questions either before or after your purchase or re-finance.