Owner's title insurance ensures that, when the purchase is closed, the buyer is the owner and has marketable title to the property, has access to the home, and there are no liens, claims, or restrictions on the buyer's property, other than the mortgage the buyer agrees to pay. If the preliminary title search uncovers potential problems, a buyer can require that those problems be satisfactorily dealt with before closing on the home.
Without owner's title insurance, the legal costs to resolve such title claims could easily be in the tens of thousands of dollars and would have to be paid out of pocket by the buyer - not to mention the stress that such situations would cause to the buyer.
A Standard Owners policy from Good Deeds Title Company covers losses from ownership defects, unreleased liens, and undisclosed mechanics liens. The policy also provides coverage for legal fees that may be incurred in defending title to your home, even if the claim is spurious. Good Deeds Title Company also offers extended coverage under a Homeowners policy, this policy provides a significant amount of additional coverage. To learn more about our policies click the button below.Download Policy Comparison