Real Estate Closings  

What is Title Insurance and why do I need it?

Title Insurance is issued by a title company in order to protect the property owner against loss if it is discovered that the title to the property contains a defect. It guarantees that no one else can claim your property. In the event the insured owner suffers a monetary loss due to a lien or other title defect, the title insurer defends the insured against a lawsuit, or provides reimbursement up to the amount of the title insurance policy.

Prior to purchasing a home, a Title Search is done. This is a review of all public documents pertaining to a specific piece of property in order to determine the present state of the title. This can involve documents from the county recorder, the county assessor and various taxing agencies. Depending on the number of documents and their complexity, a title search could take five days or weeks to complete. Typically, your attorney would order the search, and it is best to have the attorney review the results for potential problems.

What is Title Insurance and why do I need it?

Title Insurance is issued by a title company in order to protect the property owner against loss if it is discovered that the title to the property contains a defect. It guarantees that no one else can claim your property. In the event the insured owner suffers a monetary loss due to a lien or other title defect, the title insurer defends the insured against a lawsuit, or provides reimbursement up to the amount of the title insurance policy.

Prior to purchasing a home, a Title Search is done. This is a review of all public documents pertaining to a specific piece of property in order to determine the present state of the title. This can involve documents from the county recorder, the county assessor and various taxing agencies. Depending on the number of documents and their complexity, a title search could take five days or weeks to complete. Typically, your attorney would order the search, and it is best to have the attorney review the results for potential problems.



The Law Office Of Martin D. Eagan
52 Maple Avenue
Morristown, NJ 07960
Tel.: (973) 898-7300 | Fax: (973) 734-1903
marty@martyeagan.com

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