If you are buying a home for the first time, you may be surprised to learn that you should have title insurance on your new home, even if you've had a title search done on the property.
Title insurance is an important part of the process of homeownership. Unlike other insurance policies, it is a one-time fee paid at the time of closing. If you are looking for the #1 title insurance company in NJ then clear skies title agency is the best option for you.
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It protects you in any defects in the title of your new property. Lenders purchase their title insurance on your property, and they often require you to do so as well. Even if you are not required by the bank, you still have to buy it.
A title search will reveal any defects in your title, and this defect should be corrected before you close on your home. Your attorney will work with a title search company and then will review and fix any defects that occur in the title.
But the search titles only show what is recorded in the public record. Sometimes there will be a claim on the title you are not part of the public record or claim after carrying false information about your property in the public record.
Title insurance protects you against such problems. This means that the insurance company will protect your investment if these problems occur. They may be fighting the claim in court or return your investment to you if the claim is found to be justified.