Lopez Island Real Estate and Property Sales
Lopez Island Real Estate and Property Sales


Title Insurance

Title insurance is a very important part of the real estate transaction process, although many people don't fully understand what the purpose of it is. When a home buyer purchases a property, they are purchasing the title to that property. Title insurance is a policy that protects a home owner against claims on their title, such as liens, that may arise after a home purchase.

The Title Company will perform a title search to make sure that the seller of the home you are purchasing is the legal owner of the property and that there are no outstanding claims on that property by others. As thorough as a Title Company may be in a title search, there is always the possibility of issues with the title, which are known as defects, that are missed or can arise after the home purchase is complete. Examples of defects in title can include property tax liens or outstanding lawsuits and judgments against a property that have not been recorded with the county. Any of these types of problems that are found in the initial title search will be identified and corrected as early in the process as possible.

Should this scenario arise, Title Insurance protects you from such defects in title by paying the legal expenses associated with clearing your title or paying the lien amount on your behalf and pursuing legal action against the seller whose is legally responsible for those items. The title company will have the responsibility to take care of these types of issues, and the title insurance saves you any costs involved.

Title Insurance is paid through a one time premium which is included as part of your closing costs.

Local Title Insurance Companies:
First American Title
Formerly San Juan Title
PH: 360.376.4939

Chicago Title NW Washington
PH: 360-378-2126

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