Real Estate Title
A real estate title confirms the legal ownership of a property or land.  This written paper serves as evidence of your ownership.  When you purchase real estate, it is important that you obtain a real estate title.  A real estate title will ensure your right to occupy the property, as well as your right to sell the property, should you decide to do so. 

Title Insurance
Title insurance is protection against financial loss related to your title.  By acquiring title insurance, you protect your title against any hidden mistakes made by your property’s previous owners.  Title insurance allows you to enjoy your new property without having to worry about another person’s mistakes.  Title insurance can protect you from: 

• Forged Documents
• Unpaid Taxes
• Liens
• Judgments
• Claims

By acquiring title insurance, you protect yourself and your lender from future financial damages.  Title insurance usually involves a one time fee and is included in your closing costs.  While prices vary from company to company, the general title insurance cost is 0.5% to 1% of the mortgage amount.    Before a title insurance company will issue insurance, they will usually research your property’s ownership history.

If you are considering title insurance, you should consult with a real estate attorney.  An attorney can help you understand title insurance policies and conditions.  A real estate attorney may also be able to let you know if additional coverage or protection is needed for your property.  

Real Estate Closings
The final, and often time most exciting, part of the real estate process is the closing.  Closings are also referred to as the settlement.  At the closing, the buyer and the seller submit all documents pertaining to the property such as the title and the deed.  The closing is also when the buyer pays the seller the agreed upon amount for the property. 

Due to the financial and legal nature of real estate closings, many people find it helpful to have an attorney present.  An attorney can ensure that all necessary documents are submitted, and that the content and terms of the documents are explained to you.  A lawyer can also review the deed, which may impact the buyer’s ownership and tax liability.