Page 5 - Washington Title & Escrow Guide
P. 5
THE
IMPORTANCE
OF TITLE
INSURANCE
Title insurance at its core protects
you, the insured, against lawsuits
What if a title search fails to uncover an challenging your interest as
existing defect? lawful holder of title. By taking
These are commonly referred to as "hidden
risks" and do arise from time to time. They steps to minimize risk at the time
are undiscovered defects which may arise of issuance, you will be protected
long after you have bought your home. against loss of title. Chicago Title
Protection against loss from claims on provides you peace of mind
real estate, which cannot be discovered by
examination of the public records, is an knowing that the investment
important benefit which title insurance you've made in your home is a
provides. The title to the home which you safe one. If you have any
have paid for—and to which you have questions concerning your
received a deed—could be seriously coverage, please contact your
threatened or completely lost by
circumstances such as forgery, confusion local Chicago Title office.
due to similar names, error in the records—to
cite just a few hazards.
How does a title insurance policy protect
against all these dangers?
If a claim is made against your title as
Title insurance mitigates insured, Chicago Title Insurance Company
the risk of loss of title, protects you by:
1.
Defending your title, in court if necessary,
giving you peace of mind in accordance with the terms of your
policy.
on your investment. 2. Bearing the cost of settling the claim if it
proves valid, in order to protect your title
in accordance with the terms of your
policy.
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